argenex (NASDAQ:ARGX) Stock Rating Lowered by Wall Street Zen

argenex (NASDAQ:ARGX) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research firms also recently weighed in on ARGX. HC Wainwright lifted their price target on shares of argenex from $940.00 to $1,202.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Robert W. Baird raised their price objective on argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings downgraded argenex from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Guggenheim assumed coverage on argenex in a report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 target price on the stock. Finally, Bank of America boosted their price target 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, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,158.61.

argenex Price Performance

Shares of NASDAQ:ARGX opened at $990.32 on Friday. The company’s 50-day moving average price is $942.14 and its two-hundred day moving average price is $854.23. argenex has a one year low of $661.85 and a one year high of $1,072.75. The stock has a market capitalization of $61.95 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 1.02 and a beta of 0.47.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. On average, analysts anticipate that argenex will post 29.13 earnings per share for the current fiscal year.

Institutional Trading of argenex

Several institutional investors have recently made changes to their positions in ARGX. Sequoia Financial Advisors LLC grew its stake in argenex by 4.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,045 shares of the company’s stock worth $1,897,000 after buying an additional 84 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of argenex by 97.8% during the 2nd quarter. Tidal Investments LLC now owns 2,362 shares of the company’s stock worth $2,191,000 after acquiring an additional 1,168 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of argenex by 314.8% during the 2nd quarter. Squarepoint Ops LLC now owns 58,400 shares of the company’s stock worth $54,182,000 after acquiring an additional 44,321 shares during the last quarter. Allworth Financial LP grew its position in argenex by 25.7% in the second quarter. Allworth Financial LP now owns 142 shares of the company’s stock worth $132,000 after acquiring an additional 29 shares in the last quarter. Finally, HB Wealth Management LLC increased its stake in argenex by 15.2% in the second quarter. HB Wealth Management LLC now owns 424 shares of the company’s stock valued at $394,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 60.32% of the company’s stock.

argenex Company Profile

argenx SE is a global biopharmaceutical company focused on developing and commercializing antibody-based medicines for patients with severe autoimmune diseases. The company’s research is centered on its antibody engineering technologies, including the SIMPLE Antibody platform and NHance technology, which are designed to identify and enhance therapeutic antibodies.

argenx’s leading product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce disease-causing immunoglobulin G antibodies.