Wall Street Zen Downgrades argenex (NASDAQ:ARGX) to Hold

by · The Markets Daily

argenex (NASDAQ:ARGX – Get Free Report) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Several other equities research analysts also recently commented on ARGX. Royal Bank Of Canada started coverage on shares of argenex in a research note on Monday, August 25th. They set an “outperform” rating and a $850.00 price objective for the company. Citigroup reissued a “buy” rating on shares of argenex in a research note on Wednesday, May 21st. HC Wainwright boosted their price objective on argenex from $720.00 to $774.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Guggenheim increased their target price on shares of argenex from $1,060.00 to $1,070.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Piper Sandler increased their price target on argenex from $750.00 to $820.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $784.32.

Get Our Latest Research Report on ARGX

argenex Price Performance

NASDAQ:ARGX opened at $756.83 on Friday. The company has a 50-day moving average of $653.95 and a 200 day moving average of $607.70. argenex has a 1-year low of $510.05 and a 1-year high of $779.03. The firm has a market cap of $46.32 billion, a PE ratio of 38.81, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41.

argenex (NASDAQ:ARGX – Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.90. The firm had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. Sell-side analysts anticipate that argenex will post 3.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its position in argenex by 316.9% in the 1st quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock valued at $158,977,000 after purchasing an additional 204,180 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of argenex by 114.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after buying an additional 158,476 shares during the period. Franklin Resources Inc. raised its holdings in argenex by 103.9% in the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after acquiring an additional 142,606 shares in the last quarter. GAMMA Investing LLC raised its holdings in argenex by 53,684.9% in the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company’s stock valued at $802,200,000 after acquiring an additional 135,286 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in argenex by 1,203.4% in the first quarter. BNP Paribas Financial Markets now owns 133,359 shares of the company’s stock worth $78,931,000 after acquiring an additional 123,127 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenex Company Profile

(Get Free Report)

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.

Read More