argenex (NASDAQ:ARGX) Upgraded to “Buy” 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 report published on Saturday,Wall Street Zen reports.

Several other equities analysts also recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating on shares of argenex in a report on Monday, September 14th. Deutsche Bank Aktiengesellschaft reissued a “neutral” rating on shares of argenex in a research note on Friday, October 9th. Sanford C. Bernstein reiterated a “buy” rating on shares of argenex in a report on Thursday, October 8th. DZ Bank reiterated a “buy” rating on shares of argenex in a report on Friday, October 9th. Finally, Wedbush dropped their price objective on shares of argenex from $1,150.00 to $1,130.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,151.95.

argenex Price Performance

NASDAQ:ARGX opened at $819.14 on Friday. The business’s fifty day moving average price is $956.23 and its 200 day moving average price is $880.73. The firm has a market capitalization of $51.25 billion, a PE ratio of 31.46, a price-to-earnings-growth ratio of 0.75 and a beta of 0.44. argenex has a 12 month low of $661.85 and a 12 month high of $1,072.75.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. As a group, equities analysts anticipate that argenex will post 28.71 EPS for the current year.

Institutional Trading of argenex

Several institutional investors have recently added to or reduced their stakes in ARGX. Burns Matteson Capital Management LLC bought a new position in argenex during the 3rd quarter valued at $512,000. Assenagon Asset Management S.A. grew its holdings in argenex by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 36,417 shares of the company’s stock worth $34,921,000 after acquiring an additional 19,886 shares in the last quarter. Gunderson Capital Management LLC bought a new stake in shares of argenex in the 3rd quarter worth about $5,828,000. Nvwm LLC increased its position in shares of argenex by 1.3% in the 3rd quarter. Nvwm LLC now owns 1,538 shares of the company’s stock worth $1,475,000 after purchasing an additional 20 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in argenex by 19.1% in the third quarter. Mather Group LLC. now owns 81 shares of the company’s stock valued at $78,000 after buying an additional 13 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

About argenex

argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx’s leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).