argenex (NASDAQ:ARGX) Downgraded by Wall Street Zen to Hold

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

Several other research firms have also weighed in on ARGX. Royal Bank Of Canada increased their target price on shares of argenex from $860.00 to $925.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. HC Wainwright upped their price objective on shares of argenex from $774.00 to $915.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Citigroup lowered their target price on argenex from $1,124.00 to $1,091.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. DZ Bank raised argenex to a “strong-buy” rating in a research note on Friday, December 19th. Finally, Morgan Stanley lifted their price objective on shares of argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $986.78.

argenex Trading Down 1.1%

argenex stock opened at $811.45 on Friday. The firm has a market capitalization of $50.21 billion, a P/E ratio of 34.84, a PEG ratio of 0.70 and a beta of 0.37. The business has a 50-day moving average of $844.08 and a 200-day moving average of $793.69. argenex has a 1 year low of $510.05 and a 1 year high of $934.62.

Institutional Investors Weigh In On argenex

A number of large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in shares of argenex by 17.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $172,000 after acquiring an additional 30 shares in the last quarter. Keudell Morrison Wealth Management bought a new position in argenex in the 4th quarter valued at approximately $426,000. Global Retirement Partners LLC lifted its holdings in shares of argenex by 582.2% during the fourth quarter. Global Retirement Partners LLC now owns 730 shares of the company’s stock worth $614,000 after purchasing an additional 623 shares during the period. PSP Research LLC acquired a new position in argenex during the 4th quarter worth about $530,000. Finally, Intrust Bank NA lifted its stake in shares of argenex by 17.3% in the fourth quarter. Intrust Bank NA now owns 873 shares of the company’s stock worth $734,000 after acquiring an additional 129 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.