argenex (NASDAQ:ARGX) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of argenex (NASDAQ:ARGX) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on ARGX. Stifel Nicolaus set a $882.00 price objective on argenex in a report on Thursday, September 18th. Piper Sandler increased their price objective on argenex from $750.00 to $820.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Guggenheim reissued a “buy” rating and issued a $1,070.00 price objective on shares of argenex in a report on Thursday, September 18th. Wedbush reissued an “outperform” rating and issued a $800.00 price objective on shares of argenex in a report on Monday, August 25th. Finally, Wells Fargo & Company increased their price objective on argenex from $741.00 to $756.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Three 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 company’s stock. According to data from MarketBeat.com, argenex currently has an average rating of “Buy” and an average target price of $789.20.

argenex Trading Down 0.8%

Shares of argenex stock opened at $734.39 on Monday. The business’s 50 day simple moving average is $675.85 and its 200-day simple moving average is $612.79. The stock has a market capitalization of $44.94 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 0.81 and a beta of 0.41. argenex has a twelve month low of $510.05 and a twelve month high of $779.03.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.90. The business had revenue of $866.79 million for the quarter, compared to analysts’ expectations of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. Sell-side analysts predict that argenex will post 3.13 earnings per share for the current year.

Institutional Trading of argenex

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in argenex by 14.8% during the first quarter. Goldman Sachs Group Inc. now owns 168,765 shares of the company’s stock worth $99,886,000 after buying an additional 21,805 shares during the last quarter. Amundi increased its position in argenex by 8.1% during the first quarter. Amundi now owns 6,351 shares of the company’s stock worth $3,747,000 after buying an additional 478 shares during the last quarter. Voya Investment Management LLC increased its position in argenex by 5.2% during the first quarter. Voya Investment Management LLC now owns 14,905 shares of the company’s stock worth $8,822,000 after buying an additional 735 shares during the last quarter. Royal Bank of Canada increased its position in argenex by 0.9% during the first quarter. Royal Bank of Canada now owns 38,306 shares of the company’s stock worth $22,673,000 after buying an additional 353 shares during the last quarter. Finally, Wealth Management Associates Inc. acquired a new position in argenex during the first quarter worth $268,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

About argenex

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.