argenex (NASDAQ:ARGX) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of argenex (NASDAQ:ARGX) from a hold rating to a buy rating in a research note released on Saturday morning.

A number of other equities analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of argenex in a research report on Wednesday, January 21st. Wolfe Research reaffirmed a “peer perform” rating on shares of argenex in a report on Monday, November 24th. Evercore ISI increased their price target on shares of argenex from $775.00 to $910.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Zacks Research downgraded shares of argenex from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus upped their target price on argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, argenex has an average rating of “Moderate Buy” and a consensus price target of $986.78.

argenex Trading Down 0.9%

argenex stock opened at $840.50 on Friday. argenex has a 1-year low of $510.05 and a 1-year high of $934.62. The company has a fifty day simple moving average of $852.12 and a 200 day simple moving average of $782.95. The company has a market cap of $52.01 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 0.56 and a beta of 0.38.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, beating analysts’ consensus estimates of $4.37 by $0.03. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. argenex had a return on equity of 29.78% and a net margin of 41.58%. On average, equities research analysts forecast that argenex will post 3.13 EPS for the current year.

Institutional Investors Weigh In On argenex

A number of hedge funds and other institutional investors have recently bought and sold shares of ARGX. M&T Bank Corp lifted its holdings in argenex by 20,977.7% during the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock worth $654,772,000 after buying an additional 774,916 shares during the period. Wellington Management Group LLP increased its position 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 purchasing an additional 324,653 shares during the period. Two Sigma Investments LP raised its holdings 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 purchasing an additional 250,278 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of argenex by 114.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after purchasing an additional 158,476 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of argenex by 103.9% in the 2nd quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after purchasing an additional 142,606 shares during the last quarter. Institutional investors own 60.32% of the company’s stock.

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.