argenex SE (NASDAQ:ARGX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of argenex SE (NASDAQ:ARGX) have received an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $999.2222.

Several brokerages recently commented on ARGX. Deutsche Bank Aktiengesellschaft raised shares of argenex from a “hold” rating to a “buy” rating in a research note on Tuesday, March 10th. Guggenheim lowered their target price on shares of argenex from $1,160.00 to $1,120.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Wolfe Research reissued a “peer perform” rating on shares of argenex in a report on Monday, November 24th. Zacks Research upgraded shares of argenex from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Robert W. Baird increased their price objective on argenex from $858.00 to $867.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th.

Hedge Funds Weigh In On argenex

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in shares of argenex by 32.1% during the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock valued at $297,000 after acquiring an additional 122 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of argenex by 5,962.5% in the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock worth $862,000 after purchasing an additional 1,431 shares during the last quarter. Focus Partners Wealth increased its position in shares of argenex by 22.3% in the first quarter. Focus Partners Wealth now owns 400 shares of the company’s stock worth $237,000 after purchasing an additional 73 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in argenex by 550.0% in the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock valued at $69,000 after purchasing an additional 99 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in argenex by 14.8% in the second quarter. PNC Financial Services Group Inc. now owns 1,779 shares of the company’s stock valued at $981,000 after purchasing an additional 230 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

argenex Stock Up 0.4%

Shares of NASDAQ ARGX opened at $706.03 on Wednesday. argenex has a 52 week low of $510.05 and a 52 week high of $934.62. The business has a 50-day simple moving average of $800.09 and a two-hundred day simple moving average of $817.44. The company has a market cap of $43.69 billion, a P/E ratio of 36.17, a P/E/G ratio of 1.16 and a beta of 0.38.

argenex (NASDAQ:ARGX) last posted its earnings results on Thursday, February 26th. The company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.05 by $1.97. argenex had a return on equity of 38.51% and a net margin of 30.42%.The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Equities research analysts anticipate that argenex will post 3.13 EPS for the current year.

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.