argenex (NASDAQ:ARGX) Price Target Lowered to $1,091.00 at Citigroup

argenex (NASDAQ:ARGX) had its price objective cut by Citigroup from $1,124.00 to $1,091.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently commented on ARGX. DZ Bank upgraded argenex to a “strong-buy” rating in a report on Friday, December 19th. Stifel Nicolaus upped their price target on argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Robert W. Baird reiterated a “neutral” rating and issued a $858.00 price target (down from $924.00) on shares of argenex in a research report on Thursday, December 18th. Zacks Research cut shares of argenex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of argenex in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $986.72.

argenex Stock Performance

Shares of ARGX stock opened at $795.57 on Thursday. The firm’s 50 day moving average price is $871.23 and its two-hundred day moving average price is $751.73. argenex has a 52-week low of $510.05 and a 52-week high of $934.62. The stock has a market cap of $48.98 billion, a PE ratio of 34.16, a PEG ratio of 0.52 and a beta of 0.38.

argenex (NASDAQ:ARGX) last issued its earnings results on Thursday, October 30th. The company reported $4.40 EPS for the quarter, beating the consensus estimate of $4.37 by $0.03. argenex had a net margin of 41.58% and a return on equity of 29.78%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. As a group, sell-side analysts predict that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenex

Several hedge funds have recently bought and sold shares of ARGX. Capital World Investors lifted its stake in argenex by 0.4% in the third quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock valued at $1,445,113,000 after buying an additional 8,422 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of argenex by 80.1% during the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after acquiring an additional 324,653 shares during the period. Bank of America Corp DE lifted its position in argenex by 1.9% in the 3rd quarter. Bank of America Corp DE now owns 342,379 shares of the company’s stock valued at $252,525,000 after acquiring an additional 6,259 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in argenex by 114.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after acquiring an additional 158,476 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in argenex by 570.3% in the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock worth $216,961,000 after purchasing an additional 250,278 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.