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

argenex (NASDAQ:ARGX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Several other research analysts have also recently weighed in on the company. Guggenheim decreased their target price on argenex from $1,160.00 to $1,120.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Wells Fargo & Company cut their price target on argenex from $1,317.00 to $1,247.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Citigroup decreased their target price on argenex from $1,124.00 to $1,091.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. HC Wainwright raised their price objective on shares of argenex from $915.00 to $940.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Robert W. Baird raised their price objective on argenex from $858.00 to $867.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $999.22.

argenex Stock Performance

Shares of ARGX stock opened at $740.40 on Friday. argenex has a 1 year low of $510.05 and a 1 year high of $934.62. The firm has a market capitalization of $45.82 billion, a PE ratio of 37.93, a price-to-earnings-growth ratio of 1.17 and a beta of 0.38. The stock has a fifty day moving average of $813.59 and a two-hundred day moving average of $816.60.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.05 by $1.97. argenex had a return on equity of 38.51% and a net margin of 30.42%.The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Equities research analysts predict that argenex will post 3.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenex

Hedge funds have recently modified their holdings of the stock. Abound Wealth Management boosted its stake in argenex by 3,200.0% in the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after buying an additional 32 shares in the last quarter. Sound Income Strategies LLC acquired a new position in argenex during the fourth quarter worth $28,000. Ameriflex Group Inc. bought a new position in shares of argenex during the third quarter valued at $32,000. Sunbelt Securities Inc. bought a new position in shares of argenex during the third quarter valued at $36,000. Finally, Aventura Private Wealth LLC acquired a new stake in shares of argenex in the 4th quarter valued at $38,000. 60.32% of the stock is owned by institutional investors and hedge funds.

About argenex

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.