argenex (NASDAQ:ARGX) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of argenex (NASDAQ:ARGX) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other brokerages have also issued reports on ARGX. Wolfe Research restated a “peer perform” rating on shares of argenex in a research note on Monday, November 24th. HC Wainwright upped their target price on argenex from $774.00 to $915.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Royal Bank Of Canada lifted their price target on argenex from $860.00 to $925.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a research note on Wednesday. Finally, Evercore ISI raised their price objective on argenex from $775.00 to $910.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $986.78.

argenex Stock Performance

argenex stock opened at $814.74 on Thursday. The stock has a market cap of $50.42 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 0.52 and a beta of 0.38. The stock has a 50-day moving average of $859.47 and a two-hundred day moving average of $772.90. argenex has a one year low of $510.05 and a one year high of $934.62.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in argenex by 32.1% in the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock worth $297,000 after purchasing an additional 122 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of argenex by 5,962.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock valued at $862,000 after purchasing an additional 1,431 shares during the period. Focus Partners Wealth boosted its holdings in argenex by 22.3% during the first quarter. Focus Partners Wealth now owns 400 shares of the company’s stock worth $237,000 after buying an additional 73 shares in the last quarter. Geneos Wealth Management Inc. grew its position in argenex by 550.0% during the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock valued at $69,000 after buying an additional 99 shares during the period. Finally, Park Avenue Securities LLC grew its position in argenex by 7.3% during the second quarter. Park Avenue Securities LLC now owns 1,936 shares of the company’s stock valued at $1,067,000 after buying an additional 132 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Company Profile

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.