argenex SE (NASDAQ:ARGX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of argenex SE (NASDAQ:ARGX) have been given a consensus recommendation of “Moderate Buy” by the twenty-four analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $1,037.6111.

A number of research analysts have recently commented on ARGX shares. Bank of America upped their target price on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings raised argenex from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th. Wells Fargo & Company boosted their price objective on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Royal Bank Of Canada boosted their price objective on argenex from $890.00 to $945.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, Oppenheimer reduced their target price on argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research note on Thursday, April 2nd.

argenex Trading Down 1.7%

argenex stock opened at $846.19 on Tuesday. argenex has a 12-month low of $560.91 and a 12-month high of $953.58. The firm has a 50-day moving average price of $861.63 and a 200-day moving average price of $813.48. The firm has a market capitalization of $52.94 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 1.06 and a beta of 0.45.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. The company had revenue of $1.31 billion for the quarter. As a group, sell-side analysts predict that argenex will post 26.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. bought a new position in argenex in the 4th quarter worth about $20,475,000. Sivik Global Healthcare LLC bought a new stake in shares of argenex during the fourth quarter valued at approximately $1,261,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of argenex by 22.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,846 shares of the company’s stock valued at $9,121,000 after purchasing an additional 2,018 shares during the period. SG Americas Securities LLC boosted its holdings in shares of argenex by 94.9% in the fourth quarter. SG Americas Securities LLC now owns 3,179 shares of the company’s stock valued at $2,673,000 after purchasing an additional 1,548 shares during the period. Finally, M&T Bank Corp grew its stake in argenex by 34.8% in the fourth quarter. M&T Bank Corp now owns 4,980 shares of the company’s stock worth $4,188,000 after purchasing an additional 1,286 shares in the last quarter. 60.32% of the stock is currently owned by 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.