argenex (NASDAQ:ARGX) Receives “Buy” Rating from HC Wainwright

argenex (NASDAQ:ARGX)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $940.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 10.26% from the stock’s previous close.

A number of other brokerages have also recently weighed in on ARGX. Wall Street Zen cut shares of argenex from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Guggenheim boosted their price target on argenex from $1,120.00 to $1,135.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft upgraded argenex from a “hold” rating to a “buy” rating in a research note on Tuesday, March 10th. Wells Fargo & Company raised their price objective on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Glj Research upgraded argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,023.39.

argenex Trading Down 0.1%

Shares of ARGX stock opened at $852.50 on Thursday. The company’s fifty day moving average price is $828.47 and its 200-day moving average price is $809.44. The stock has a market cap of $53.02 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 1.30 and a beta of 0.47. argenex has a 12 month low of $510.05 and a 12 month high of $934.62.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. The company had revenue of $1.31 billion during the quarter. On average, sell-side analysts forecast that argenex will post 26.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenex

A number of hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in shares of argenex by 3.4% during the 1st 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 last quarter. Capital World Investors raised its holdings in shares of argenex by 0.4% during the third quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock valued at $1,445,113,000 after purchasing an additional 8,422 shares during the last quarter. M&T Bank Corp raised its holdings in shares of argenex by 20,977.7% during the fourth quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock valued at $654,772,000 after purchasing an additional 774,916 shares during the last quarter. Wellington Management Group LLP lifted its position in argenex by 80.1% during the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after purchasing an additional 324,653 shares during the period. Finally, Morgan Stanley lifted its position in argenex by 19.2% during the fourth quarter. Morgan Stanley now owns 518,852 shares of the company’s stock valued at $436,331,000 after purchasing an additional 83,746 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.