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

Wall Street Zen lowered shares of argenex (NASDAQ:ARGX) from a buy rating to a hold rating in a research note issued to investors on Sunday.

Several other equities analysts have also weighed in on the stock. Guggenheim lifted their target price on shares of argenex from $1,060.00 to $1,070.00 and gave the company a “buy” rating in a report on Friday, August 1st. Piper Sandler upped their target price on shares of argenex from $750.00 to $820.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Morgan Stanley boosted their price target on shares of argenex from $700.00 to $766.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Royal Bank Of Canada started coverage on shares of argenex in a research report on Monday, August 25th. They set an “outperform” rating and a $850.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of argenex from $775.00 to $830.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $784.32.

argenex Trading Down 0.6%

Shares of NASDAQ ARGX opened at $752.32 on Friday. argenex has a 12 month low of $510.05 and a 12 month high of $779.03. The company has a 50 day simple moving average of $658.22 and a two-hundred day simple moving average of $608.70. The stock has a market cap of $46.04 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 0.82 and a beta of 0.41.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, July 31st. The company reported $3.74 EPS for the quarter, beating the consensus estimate of $2.84 by $0.90. The business had revenue of $866.79 million during the quarter, compared to analysts’ expectations of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. Analysts forecast that argenex will post 3.13 EPS for the current year.

Hedge Funds Weigh In On argenex

Several hedge funds have recently added to or reduced their stakes in ARGX. Adage Capital Partners GP L.L.C. boosted its holdings in shares of argenex by 114.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after acquiring an additional 158,476 shares during the period. Franklin Resources Inc. boosted its holdings in shares of 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 during the period. Lord Abbett & CO. LLC boosted its holdings in shares of argenex by 33.2% in the first quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company’s stock valued at $162,585,000 after acquiring an additional 68,498 shares during the period. Millennium Management LLC boosted its holdings in shares of argenex by 316.9% in the first quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock valued at $158,977,000 after acquiring an additional 204,180 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of argenex by 6.1% in the second quarter. Jennison Associates LLC now owns 264,647 shares of the company’s stock valued at $145,879,000 after acquiring an additional 15,186 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Company Profile

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.