argenex (NASDAQ:ARGX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of argenex (NASDAQ:ARGX) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently commented on the stock. Robert W. Baird upped their price target on shares of argenex from $867.00 to $932.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Piper Sandler lifted their price objective on shares of argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Wedbush lifted their price objective on shares of argenex from $1,050.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. UBS Group raised shares of argenex from a “neutral” rating to a “buy” rating and boosted their target price for the company from $960.00 to $1,400.00 in a report on Wednesday, August 26th. Finally, Citizens Jmp increased their target price on argenex from $932.00 to $1,200.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, argenex presently has an average rating of “Moderate Buy” and an average target price of $1,158.61.

argenex Stock Performance

ARGX stock opened at $1,031.66 on Friday. The company has a market capitalization of $64.54 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 1.06 and a beta of 0.46. argenex has a fifty-two week low of $661.85 and a fifty-two week high of $1,061.57. The stock has a fifty day moving average of $912.69 and a 200-day moving average of $835.57.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. Equities analysts predict that argenex will post 29.04 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sands Capital Management LLC boosted its position in shares of argenex by 2,046.6% during the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock valued at $300,110,000 after acquiring an additional 340,245 shares during the last quarter. Invesco Ltd. boosted its holdings in argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after acquiring an additional 331,489 shares during the period. Wellington Management Group LLP boosted its stake in shares of argenex by 80.1% during the third 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 boosted its position in argenex by 570.3% during the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after buying an additional 250,278 shares during the period. Finally, Corient Private Wealth LLC grew its stake in shares of argenex by 12,441.8% in the fourth quarter. Corient Private Wealth LLC now owns 246,572 shares of the company’s stock worth $207,355,000 after purchasing an additional 244,606 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

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.