argenx (NASDAQ:ARGX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “argenx SE is a biopharmaceutical company. It focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company’s product pipeline consists of ARGX-113, ARGX-110 and ARGX-111 which are in clinical trials. argenx SE is based in Breda, the Netherlands. “

Other equities research analysts also recently issued research reports about the stock. Piper Jaffray Companies set a $46.00 target price on shares of Hormel Foods and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Stifel Nicolaus set a $154.00 target price on shares of argenx and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Robert W. Baird set a $25.00 target price on shares of Actuant and gave the stock a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $149.91.

Shares of ARGX opened at $148.78 on Tuesday. argenx has a fifty-two week low of $63.81 and a fifty-two week high of $149.47. The business’s 50-day simple moving average is $133.35.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in argenx during the first quarter worth about $121,000. SG Americas Securities LLC purchased a new position in argenx during the first quarter worth about $134,000. Virtu Financial LLC purchased a new position in argenx during the first quarter worth about $217,000. NumerixS Investment Technologies Inc purchased a new position in argenx during the first quarter worth about $250,000. Finally, JGP Global Gestao de Recursos Ltda. raised its holdings in argenx by 9.0% during the first quarter. JGP Global Gestao de Recursos Ltda. now owns 2,288 shares of the company’s stock worth $286,000 after purchasing an additional 188 shares in the last quarter. 68.03% of the stock is owned by hedge funds and other institutional investors.

argenx Company Profile

argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.

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