Zacks Investment Research downgraded shares of argenx SE – American Depositary Shares (NASDAQ:ARGX) from a hold rating to a sell rating in a research note issued to investors on Wednesday, March 7th.
According to Zacks, “argenx SE is a biopharmaceutical company. It focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company’s product pipeline consists of ARGX-113, ARGX-110 and ARGX-111 which are in clinical trials. argenx SE is based in Breda, the Netherlands. “
A number of other brokerages also recently commented on ARGX. JMP Securities boosted their target price on shares of argenx SE – American Depositary Shares from $74.00 to $87.00 and gave the stock an outperform rating in a report on Monday, January 29th. Piper Jaffray Companies upped their price objective on shares of argenx SE – American Depositary Shares to $100.00 and gave the company an overweight rating in a report on Tuesday, December 19th. Finally, Wedbush restated an outperform rating and set a $41.00 price objective (up previously from $26.00) on shares of argenx SE – American Depositary Shares in a report on Thursday, November 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $76.25.
Shares of argenx SE – American Depositary Shares (ARGX) traded up $4.04 during trading on Wednesday, reaching $85.00. 484,018 shares of the company’s stock were exchanged, compared to its average volume of 217,030. argenx SE – American Depositary Shares has a fifty-two week low of $17.33 and a fifty-two week high of $87.00.
Institutional investors and hedge funds have recently bought and sold shares of the company. Artal Group S.A. acquired a new position in shares of argenx SE – American Depositary Shares during the third quarter valued at about $1,229,000. Alyeska Investment Group L.P. increased its holdings in shares of argenx SE – American Depositary Shares by 1.8% during the third quarter. Alyeska Investment Group L.P. now owns 121,313 shares of the company’s stock valued at $2,743,000 after acquiring an additional 2,167 shares in the last quarter. Finally, Pictet Asset Management Ltd. acquired a new position in shares of argenx SE – American Depositary Shares during the third quarter valued at about $11,812,000. Hedge funds and other institutional investors own 44.94% of the company’s stock.
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About argenx SE – American Depositary Shares
argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The companys lead clinical stage product candidates include ARGX-113, a product in Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis and immune thrombocytopenia; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of hematological cancers, such as T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.
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