argenex (NASDAQ:ARGX) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of argenex (NASDAQ:ARGX) from a buy rating to a hold rating in a research note published on Saturday morning.

ARGX has been the topic of a number of other research reports. Wolfe Research restated a “peer perform” rating on shares of argenex in a report on Monday, November 24th. Wells Fargo & Company increased their price target on argenex from $1,095.00 to $1,316.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. Truist Financial raised their price objective on argenex from $950.00 to $1,030.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Evercore ISI lifted their price objective on shares of argenex from $775.00 to $910.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Guggenheim reiterated a “buy” rating and issued a $1,070.00 target price on shares of argenex in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $986.72.

argenex Price Performance

Shares of NASDAQ ARGX opened at $796.00 on Friday. The company has a 50-day moving average price of $870.03 and a 200-day moving average price of $757.78. The stock has a market capitalization of $49.01 billion, a P/E ratio of 34.18, a P/E/G ratio of 0.50 and a beta of 0.38. argenex has a 1 year low of $510.05 and a 1 year high of $934.62.

argenex (NASDAQ:ARGX) last posted its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. argenex had a net margin of 41.58% and a return on equity of 29.78%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. As a group, equities research analysts anticipate that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenex

Large investors have recently added to or reduced their stakes in the stock. Abound Wealth Management boosted its stake in argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after acquiring an additional 32 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of argenex in the 3rd quarter worth approximately $32,000. Sunbelt Securities Inc. purchased a new position in argenex in the third quarter valued at approximately $36,000. Aventura Private Wealth LLC purchased a new position in argenex in the fourth quarter valued at approximately $38,000. Finally, Bessemer Group Inc. grew its holdings in argenex by 276.5% during the third quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock valued at $47,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Company Profile

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.