argenex (NASDAQ:ARGX) Cut to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of argenex (NASDAQ:ARGX – Free Report) from a buy rating to a hold rating in a report released on Saturday.

Several other research analysts also recently commented on ARGX. Guggenheim began coverage on shares of argenex in a research report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 price objective for the company. Royal Bank Of Canada lifted their price target on argenex from $945.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Morgan Stanley boosted their price target on argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Citizens Jmp dropped their price objective on argenex from $944.00 to $932.00 and set a “market outperform” rating for the company in a research report on Friday, July 24th. Finally, Bank of America raised their price objective on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,072.72.

Read Our Latest Stock Analysis on argenex

argenex Stock Up 16.0%

Shares of argenex stock opened at $987.84 on Friday. argenex has a 12-month low of $650.01 and a 12-month high of $1,002.16. The company has a market capitalization of $61.80 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 1.05 and a beta of 0.46. The firm’s 50-day moving average price is $883.84 and its two-hundred day moving average price is $821.99.

argenex (NASDAQ:ARGX – Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating 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 company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. On average, sell-side analysts expect that argenex will post 28.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARGX. Janus Henderson Group PLC lifted its stake in shares of argenex by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock valued at $1,847,592,000 after acquiring an additional 83,568 shares during the last quarter. M&T Bank Corp increased its holdings in argenex by 20,977.7% in the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock worth $654,772,000 after purchasing an additional 774,916 shares in the last quarter. Wellington Management Group LLP increased its holdings in argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after purchasing an additional 324,653 shares in the last quarter. Morgan Stanley raised its position in argenex by 19.2% in the fourth quarter. Morgan Stanley now owns 518,852 shares of the company’s stock valued at $436,331,000 after purchasing an additional 83,746 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of argenex by 390.4% during the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after purchasing an additional 331,489 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

About argenex

(Get Free Report)

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.

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