argenex's (ARGX) Buy Rating Reaffirmed at DZ Bank

Key Points

• DZ Bank reaffirmed its “buy” rating on argenx, while analysts overall maintain a “Moderate Buy” consensus with an average price target of $1,154.94.
• Analyst views remain mixed: Baird lowered its target to $823 with a neutral rating, while HC Wainwright, Morgan Stanley, and Piper Sandler raised targets and maintained bullish ratings.
• argenx shares traded at $818.07, below their 50-day average of $959.93. The company recently exceeded quarterly expectations, reporting $7.32 in EPS versus $5.86 expected and revenue of $1.54 billion.

argenex (NASDAQ:ARGX - Get Free Report)'s stock had its "buy" rating restated by investment analysts at DZ Bank in a research report issued on Friday.

Several other brokerages also recently weighed in on ARGX. Robert W. Baird decreased their target price on argenex from $932.00 to $823.00 and set a "neutral" rating for the company in a research report on Friday. HC Wainwright increased their target price on argenex from $940.00 to $1,202.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Weiss Ratings downgraded argenex from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. Morgan Stanley boosted their price target on argenex from $1,230.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Monday, August 31st. Finally, Piper Sandler boosted their price target on argenex from $1,075.00 to $1,215.00 and gave the stock an "overweight" rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, argenex currently has a consensus rating of "Moderate Buy" and an average price target of $1,154.94.

argenex Stock Performance

Shares of NASDAQ:ARGX traded down $6.96 during midday trading on Friday, hitting $818.07. 104,254 shares of the company's stock traded hands, compared to its average volume of 345,039. The company has a market cap of $51.18 billion, a PE ratio of 31.37, a P/E/G ratio of 0.86 and a beta of 0.44. The firm's fifty day moving average price is $959.93 and its two-hundred day moving average price is $877.49. argenex has a twelve month low of $661.85 and a twelve month high of $1,072.75.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, topping 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 analysts' expectations of $1.45 billion. As a group, equities research analysts anticipate that argenex will post 28.83 EPS for the current fiscal year.

Hedge Funds Weigh In On argenex

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of argenex by 31.5% in the 3rd quarter. GAMMA Investing LLC now owns 459 shares of the company's stock worth $440,000 after purchasing an additional 110 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of argenex by 3.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 378 shares of the company's stock valued at $363,000 after purchasing an additional 13 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of argenex by 6.2% during the third quarter. Valeo Financial Advisors LLC now owns 1,144 shares of the company's stock worth $1,097,000 after purchasing an additional 67 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of argenex by 24.6% during the second quarter. QRG Capital Management Inc. now owns 1,907 shares of the company's stock worth $1,769,000 after purchasing an additional 377 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of argenex by 12.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 365 shares of the company's stock worth $339,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

About argenex

argenx SE NASDAQ: ARGX is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx's leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).

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