argenex (NASDAQ:ARGX) Rating Increased to Buy at Wall Street Zen

argenex (NASDAQ:ARGX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

ARGX has been the topic of several other reports. Truist Financial raised their price target on shares of argenex from $950.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. HC Wainwright increased their target price on shares of argenex from $774.00 to $915.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Piper Sandler boosted their price target on argenex from $820.00 to $930.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Zacks Research cut argenex from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Finally, DZ Bank upgraded argenex to a “strong-buy” rating in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $986.78.

argenex Stock Down 0.9%

Shares of ARGX stock opened at $840.50 on Friday. argenex has a 12 month low of $510.05 and a 12 month high of $934.62. The firm has a market cap of $52.01 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 0.56 and a beta of 0.38. The stock has a 50 day moving average of $852.12 and a 200-day moving average of $781.37.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.03. The business 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, equities analysts predict that argenex will post 3.13 EPS for the current fiscal year.

Institutional Trading of argenex

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of argenex by 14.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock worth $162,160,000 after buying an additional 26,343 shares during the last quarter. Alta Wealth Advisors LLC bought a new position in argenex in the third quarter valued at approximately $623,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in argenex by 40.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,611 shares of the company’s stock worth $2,542,000 after acquiring an additional 1,328 shares during the period. Aberdeen Group plc raised its position in shares of argenex by 28.8% during the 2nd quarter. Aberdeen Group plc now owns 70,293 shares of the company’s stock valued at $38,747,000 after acquiring an additional 15,703 shares during the last quarter. Finally, Tandem Capital Management Corp ADV acquired a new position in shares of argenex in the 2nd quarter valued at $450,000. 60.32% of the stock is owned by institutional investors.

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.