argenex (NASDAQ:ARGX) Cut to Hold at Wall Street Zen

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

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Zacks Research upgraded shares of argenex from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Citizens Jmp lifted their target price on shares of argenex from $925.00 to $944.00 and gave the stock a “market outperform” rating in a research report on Friday, February 27th. Guggenheim cut their price target on shares of argenex from $1,160.00 to $1,120.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Wells Fargo & Company reduced their price target on shares of argenex from $1,317.00 to $1,247.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $999.22.

argenex Stock Down 1.4%

Shares of NASDAQ ARGX opened at $717.80 on Friday. The stock’s fifty day simple moving average is $815.53 and its 200 day simple moving average is $814.97. The stock has a market capitalization of $44.42 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 1.17 and a beta of 0.38. argenex has a 52-week low of $510.05 and a 52-week high of $934.62.

argenex (NASDAQ:ARGX) last announced its earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.30 billion. As a group, analysts anticipate that argenex will post 3.13 earnings per share for the current year.

Institutional Trading of argenex

Hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. increased its stake in shares of argenex by 11.6% in the third quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock worth $169,474,000 after acquiring an additional 23,864 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of argenex by 91.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,828 shares of the company’s stock worth $6,511,000 after acquiring an additional 4,217 shares in the last quarter. Allianz Asset Management GmbH boosted its position in argenex by 21.3% during the third quarter. Allianz Asset Management GmbH now owns 3,671 shares of the company’s stock valued at $2,708,000 after purchasing an additional 645 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in argenex by 14.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock valued at $162,160,000 after purchasing an additional 26,343 shares in the last quarter. Finally, US Bancorp DE grew its stake in argenex by 37.2% in the third quarter. US Bancorp DE now owns 7,073 shares of the company’s stock valued at $5,217,000 after purchasing an additional 1,919 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other 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.