UBS Group upgraded shares of argenex (NASDAQ:ARGX – Free Report) from a neutral rating to a buy rating in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have $1,400.00 price objective on the stock, up from their previous price objective of $960.00.
Several other analysts also recently weighed in on the company. Citizens Jmp boosted their target price on argenex from $932.00 to $1,200.00 and gave the company a “market outperform” rating in a report on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft downgraded argenex from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Morgan Stanley lifted their price target on argenex from $1,200.00 to $1,230.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. HC Wainwright lifted their price target on argenex from $940.00 to $1,202.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Finally, Piper Sandler boosted their price objective on argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, argenex has a consensus rating of “Moderate Buy” and an average target price of $1,157.50.
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argenex Price Performance
argenex (NASDAQ:ARGX – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping the consensus estimate of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. As a group, sell-side analysts forecast that argenex will post 29.04 earnings per share for the current year.
Institutional Investors Weigh In On argenex
Several hedge funds have recently made changes to their positions in ARGX. Sands Capital Management LLC grew its holdings in shares of argenex by 2,046.6% during the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after buying an additional 340,245 shares during the last quarter. Invesco Ltd. raised its stake in argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after acquiring an additional 331,489 shares during the last quarter. Wellington Management Group LLP raised its stake in argenex by 80.1% during the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after acquiring an additional 324,653 shares during the last quarter. Two Sigma Investments LP lifted its position in argenex by 570.3% during the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock worth $216,961,000 after acquiring an additional 250,278 shares during the period. Finally, Corient Private Wealth LLC lifted its position in argenex by 12,441.8% during the 4th quarter. Corient Private Wealth LLC now owns 246,572 shares of the company’s stock worth $207,355,000 after acquiring an additional 244,606 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.
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.
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