argenex SE (NASDAQ:ARGX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

argenex SE (NASDAQ:ARGX) has received a consensus rating of “Moderate Buy” from the twenty-four brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $986.7778.

ARGX has been the subject of several research analyst reports. Truist Financial lifted their target price on shares of argenex from $950.00 to $1,030.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Wells Fargo & Company boosted their price objective on argenex from $1,264.00 to $1,317.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Wedbush reaffirmed an “outperform” rating and issued a $1,000.00 target price on shares of argenex in a research report on Wednesday, January 14th. TD Cowen increased their target price on argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Stifel Nicolaus boosted 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.

argenex Trading Up 2.3%

ARGX stock opened at $833.16 on Tuesday. The firm has a market capitalization of $51.56 billion, a PE ratio of 35.77, a PEG ratio of 0.54 and a beta of 0.38. argenex has a 1-year low of $510.05 and a 1-year high of $934.62. The business’s 50 day simple moving average is $857.54 and its 200 day simple moving average is $776.33.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results 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. argenex had a return on equity of 29.78% and a net margin of 41.58%.The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. As a group, sell-side analysts predict that argenex will post 3.13 EPS for the current fiscal year.

Institutional Trading of argenex

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Abound Wealth Management increased its holdings in shares of argenex by 3,200.0% during the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after purchasing an additional 32 shares during the period. Sound Income Strategies LLC acquired a new stake in argenex during the fourth quarter worth approximately $28,000. Ameriflex Group Inc. acquired a new stake in argenex during the third quarter worth approximately $32,000. Sunbelt Securities Inc. bought a new position in argenex during the 3rd quarter worth $36,000. Finally, Aventura Private Wealth LLC acquired a new position in argenex in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.