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

by · The Markets Daily

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

Several other analysts have also recently weighed in on the stock. Wolfe Research reiterated a “peer perform” rating on shares of argenex in a report on Monday, November 24th. Wells Fargo & Company raised their target price on shares of argenex from $1,264.00 to $1,317.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Citigroup cut their target price on shares of argenex from $1,124.00 to $1,091.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. HC Wainwright increased their price target on shares of argenex from $774.00 to $915.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Truist Financial upped their price target on argenex from $950.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $986.78.

Check Out Our Latest Report on ARGX

argenex Price Performance

Shares of NASDAQ:ARGX opened at $833.16 on Friday. The stock’s 50-day moving average is $841.11 and its 200 day moving average is $797.05. The company has a market cap of $51.56 billion, a PE ratio of 35.77, a P/E/G ratio of 0.71 and a beta of 0.37. argenex has a 1 year low of $510.05 and a 1 year high of $934.62.

Institutional Trading of argenex

Several institutional investors have recently bought and sold shares of the company. Abound Wealth Management raised its stake in argenex by 3,200.0% during the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after buying an additional 32 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of argenex in the 4th quarter worth $28,000. Ameriflex Group Inc. bought a new stake in shares of argenex in the third quarter worth $32,000. Sunbelt Securities Inc. purchased a new stake in argenex during the third quarter valued at $36,000. Finally, Aventura Private Wealth LLC bought a new position in argenex in the fourth quarter valued at about $38,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Company Profile

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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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