Zacks: ARGENX SE-ADR (ARGX) Receives Average Rating of “Strong Buy” from Brokerages
Shares of ARGENX SE-ADR (NASDAQ:ARGX) have earned a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus price objective of $29.67 for the company, according to Zacks. Zacks has also given ARGENX SE-ADR an industry rank of 158 out of 265 based on the ratings given to related companies.
ARGX has been the topic of several recent analyst reports. JMP Securities initiated coverage on shares of ARGENX SE-ADR in a research note on Monday, June 12th. They issued an “outperform” rating and a $33.00 price target on the stock. Cowen and Company reaffirmed a “buy” rating on shares of ARGENX SE-ADR in a research note on Thursday, August 24th. Finally, Wedbush reaffirmed an “outperform” rating on shares of ARGENX SE-ADR in a research note on Monday, June 12th.
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Shares of ARGENX SE-ADR (NASDAQ:ARGX) traded up 1.34% during midday trading on Thursday, reaching $26.55. 74,002 shares of the company’s stock were exchanged. The stock’s market cap is $713.96 million. ARGENX SE-ADR has a 12-month low of $17.33 and a 12-month high of $26.97. The stock’s 50 day moving average is $21.70 and its 200-day moving average is $21.06.
A number of hedge funds have recently bought and sold shares of ARGX. Jennison Associates LLC purchased a new position in ARGENX SE-ADR in the 2nd quarter worth about $2,657,000. Federated Investors Inc. PA purchased a new position in ARGENX SE-ADR in the 2nd quarter worth about $9,545,000. Franklin Resources Inc. purchased a new position in ARGENX SE-ADR in the 2nd quarter worth about $7,424,000. AXA purchased a new position in ARGENX SE-ADR in the 2nd quarter worth about $3,190,000. Finally, Nicholas Investment Partners LP purchased a new position in ARGENX SE-ADR in the 2nd quarter worth about $236,000. 22.74% of the stock is currently owned by institutional investors.
About ARGENX SE-ADR
argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The companys lead clinical stage product candidates include ARGX-113, a product in Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis and immune thrombocytopenia; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of hematological cancers, such as T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.
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