argenex (NASDAQ:ARGX) Downgraded by Wall Street Zen to “Hold”

argenex (NASDAQ:ARGX) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Several other research firms have also weighed in on ARGX. Piper Sandler boosted their price objective on shares of argenex from $820.00 to $930.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Wedbush reiterated an “outperform” rating and set a $1,000.00 price target on shares of argenex in a report on Wednesday, January 14th. HC Wainwright upped their price objective on argenex from $774.00 to $915.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wolfe Research reaffirmed a “peer perform” rating on shares of argenex in a research report on Monday, November 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a research note on Wednesday, January 21st. One investment 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 given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $986.78.

argenex Trading Down 1.1%

NASDAQ:ARGX opened at $811.45 on Friday. argenex has a 1-year low of $510.05 and a 1-year high of $934.62. The firm has a fifty day simple moving average of $844.08 and a 200 day simple moving average of $792.16. The stock has a market capitalization of $50.21 billion, a PE ratio of 34.84, a P/E/G ratio of 0.70 and a beta of 0.37.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARGX. Abound Wealth Management lifted 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 buying an additional 32 shares in the last quarter. Sound Income Strategies LLC bought a new position in argenex during the fourth quarter worth about $28,000. Ameriflex Group Inc. acquired a new stake in argenex in the 3rd quarter worth about $32,000. Sunbelt Securities Inc. bought a new stake in argenex in the 3rd quarter valued at about $36,000. Finally, Aventura Private Wealth LLC bought a new stake in argenex in the 4th quarter valued at about $38,000. 60.32% of the stock is owned by institutional investors and hedge funds.

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.