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

Wall Street Zen lowered shares of argenex (NASDAQ:ARGX) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Several other equities analysts have also weighed in on ARGX. Bank of America increased their price objective on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Robert W. Baird upped their price target on argenex from $867.00 to $932.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Oppenheimer increased their price target on argenex from $1,014.00 to $1,037.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings lowered argenex from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Finally, Morgan Stanley boosted their price objective on argenex from $1,230.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Monday, August 31st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, argenex presently has an average rating of “Moderate Buy” and a consensus price target of $1,158.61.

argenex Stock Performance

Shares of ARGX stock opened at $988.20 on Friday. The firm has a market cap of $61.82 billion, a price-to-earnings ratio of 37.95, a P/E/G ratio of 1.02 and a beta of 0.47. argenex has a 52 week low of $661.85 and a 52 week high of $1,072.75. The firm’s 50-day simple moving average is $944.38 and its two-hundred day simple moving average is $855.92.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. Analysts forecast that argenex will post 29.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in shares of argenex by 3.4% in the first quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock valued at $1,847,592,000 after acquiring an additional 83,568 shares during the period. Sands Capital Management LLC lifted its stake in argenex by 2,046.6% in the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after purchasing an additional 340,245 shares in the last quarter. Jennison Associates LLC boosted its holdings in argenex by 3.4% in the 1st quarter. Jennison Associates LLC now owns 237,468 shares of the company’s stock valued at $173,411,000 after purchasing an additional 7,707 shares during the period. Fiera Capital Corp increased its holdings in shares of argenex by 27.2% in the fourth quarter. Fiera Capital Corp now owns 225,971 shares of the company’s stock worth $190,030,000 after purchasing an additional 48,317 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in shares of argenex in the fourth quarter worth $188,071,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

About argenex

argenx SE is a global biopharmaceutical company focused on developing and commercializing antibody-based medicines for patients with severe autoimmune diseases. The company’s research is centered on its antibody engineering technologies, including the SIMPLE Antibody platform and NHance technology, which are designed to identify and enhance therapeutic antibodies.

argenx’s leading product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce disease-causing immunoglobulin G antibodies.