argenex (NASDAQ:ARGX) Earns Buy Rating from Analysts at Guggenheim

Guggenheim began coverage on shares of argenex (NASDAQ:ARGX) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $1,185.00 target price on the stock.

ARGX has been the subject of several other research reports. Wall Street Zen raised argenex from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. HC Wainwright reaffirmed a “buy” rating and issued a $940.00 target price on shares of argenex in a report on Thursday, June 25th. Royal Bank Of Canada lifted their price target on argenex from $945.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Wells Fargo & Company upped their price target on argenex from $1,260.00 to $1,291.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, Weiss Ratings cut argenex from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,056.89.

argenex Stock Up 0.8%

NASDAQ:ARGX opened at $875.30 on Tuesday. The company’s 50 day moving average is $878.55 and its 200-day moving average is $819.15. argenex has a 12 month low of $631.47 and a 12 month high of $953.58. The firm has a market cap of $54.76 billion, a price-to-earnings ratio of 33.61, a P/E/G ratio of 1.10 and a beta of 0.46.

argenex (NASDAQ:ARGX) last announced its 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 the consensus estimate of $1.45 billion. Research analysts predict that argenex will post 28.05 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

Several hedge funds have recently made changes to their positions in ARGX. Oppenheimer & Co. Inc. raised its position in shares of argenex by 2.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock valued at $372,000 after acquiring an additional 12 shares during the period. Valeo Financial Advisors LLC grew its holdings in argenex by 0.9% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company’s stock valued at $1,153,000 after purchasing an additional 12 shares during the period. CI Investments Inc. increased its stake in argenex by 2.6% in the fourth quarter. CI Investments Inc. now owns 469 shares of the company’s stock valued at $394,000 after purchasing an additional 12 shares in the last quarter. Allworth Financial LP increased its stake in argenex by 12.7% in the fourth quarter. Allworth Financial LP now owns 115 shares of the company’s stock valued at $97,000 after purchasing an additional 13 shares in the last quarter. Finally, WPG Advisers LLC raised its holdings in argenex by 17.8% in the first quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after purchasing an additional 13 shares during the period. Institutional investors 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.