argenex (NASDAQ:ARGX) Rating Increased to Buy at UBS Group

Key Points

• UBS upgraded argenx from “neutral” to “buy” and set a $1,400 price target, implying 37.32% upside from the prior close.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $1,157.50, although Deutsche Bank and Wall Street Zen recently downgraded the stock to “hold.”
• argenx reported quarterly EPS of $7.32 versus the $5.86 consensus estimate and revenue of $1.54 billion, ahead of the $1.45 billion forecast; institutional investors own 60.32% of the company.

argenex (NASDAQ:ARGX - Get Free Report) was upgraded by equities research analysts at UBS Group from a "neutral" rating to a "buy" rating in a research report issued on Wednesday, Marketbeat reports. The firm currently has a $1,400.00 target price on the stock. UBS Group's target price indicates a potential upside of 37.32% from the stock's previous close.

Other equities analysts have also recently issued reports about the stock. Wedbush upped their price objective on shares of argenex from $1,050.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Tuesday, August 18th. Guggenheim started coverage on argenex in a research report on Tuesday, August 4th. They set a "buy" rating and a $1,185.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut argenex from a "buy" rating to a "hold" rating in a research note on Monday. Wall Street Zen downgraded argenex from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Piper Sandler raised their price objective on argenex from $1,075.00 to $1,215.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,157.50.

argenex Price Performance

NASDAQ:ARGX opened at $1,019.49 on Wednesday. The business's 50-day moving average is $900.50 and its two-hundred day moving average is $829.46. argenex has a 12 month low of $661.85 and a 12 month high of $1,058.69. The firm has a market capitalization of $63.78 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 1.05 and a beta of 0.46.

argenex (NASDAQ:ARGX - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, topping the consensus estimate of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. Equities analysts anticipate that argenex will post 29.04 EPS for the current year.

Hedge Funds Weigh In On argenex

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in shares of argenex by 32.1% during the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company's stock valued at $297,000 after acquiring an additional 122 shares in the last quarter. NewEdge Advisors LLC boosted its position in argenex by 5,962.5% during the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company's stock valued at $862,000 after purchasing an additional 1,431 shares during the last quarter. Focus Partners Wealth grew its stake in argenex by 22.3% in the first quarter. Focus Partners Wealth now owns 400 shares of the company's stock valued at $237,000 after purchasing an additional 73 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in argenex by 550.0% in the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company's stock valued at $69,000 after purchasing an additional 99 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in argenex by 60.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company's stock worth $73,000 after purchasing an additional 50 shares during the last quarter. 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.

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