Wall Street Zen upgraded shares of argenex (NASDAQ:ARGX – Free Report) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.
A number of other research firms also recently weighed in on ARGX. Truist Financial upped their target price on argenex from $1,030.00 to $1,095.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Citizens Jmp increased their price target on argenex from $932.00 to $1,200.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 18th. Robert W. Baird lowered their price target on argenex from $932.00 to $823.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Guggenheim initiated coverage on argenex in a research report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “neutral” rating on shares of argenex in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, argenex currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,151.95.
Check Out Our Latest Analysis on ARGX
argenex Trading Up 0.8%
ARGX stock opened at $825.61 on Friday. The firm’s 50-day moving average is $955.42 and its two-hundred day moving average is $882.64. The company has a market capitalization of $51.92 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 0.75 and a beta of 0.44. argenex has a 52 week low of $661.85 and a 52 week high of $1,072.75.
argenex (NASDAQ:ARGX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. On average, equities research analysts predict that argenex will post 28.71 earnings per share for the current year.
Hedge Funds Weigh In On argenex
Several hedge funds have recently made changes to their positions in ARGX. Janus Henderson Group PLC grew its holdings in shares of argenex by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock worth $1,847,592,000 after acquiring an additional 83,568 shares during the last quarter. First Trust Advisors LP raised its position in shares of argenex by 98.9% during the first quarter. First Trust Advisors LP now owns 107,195 shares of the company’s stock worth $78,279,000 after purchasing an additional 53,293 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of argenex by 314.8% during the second quarter. Squarepoint Ops LLC now owns 58,400 shares of the company’s stock valued at $54,182,000 after purchasing an additional 44,321 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of argenex during the second quarter valued at $27,584,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of argenex during the first quarter valued at $14,882,000. Institutional investors and hedge funds own 60.32% of the company’s stock.
About argenex
argenx SE (NASDAQ: ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company uses its antibody engineering capabilities to discover and advance medicines designed to target disease-causing immune mechanisms.
argenx’s lead product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce levels of disease-causing immunoglobulin G antibodies. VYVGART is approved in several markets for the treatment of generalized myasthenia gravis.
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