Wall Street Zen Upgrades argenex (NASDAQ:ARGX) to Buy

Key Points

• Wall Street Zen upgraded argenex to “Buy” from “Hold,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $1,151.95.
• ARGX opened at $819.14 after declining 3.2%, trading below its 50-day and 200-day moving averages; its 12-month range is $661.85 to $1,072.75.
• argenex exceeded quarterly expectations, reporting $7.32 in EPS versus the $5.86 consensus and revenue of $1.54 billion versus estimates of $1.45 billion. Institutional investors own approximately 60.32% of the company.

argenex (NASDAQ:ARGX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts also recently weighed in on the company. Robert W. Baird cut their target price on argenex from $932.00 to $823.00 and set a "neutral" rating on the stock in a research note on Friday, October 9th. Piper Sandler increased their price target on argenex from $1,075.00 to $1,215.00 and gave the stock an "overweight" rating in a research note on Monday, August 17th. Deutsche Bank Aktiengesellschaft reissued a "neutral" rating on shares of argenex in a research note on Friday, October 9th. Citizens Jmp raised their price target on argenex from $932.00 to $1,200.00 and gave the company a "market outperform" rating in a report on Tuesday, August 18th. Finally, Guggenheim began coverage on shares of argenex in a research note on Tuesday, August 4th. They set a "buy" rating and a $1,185.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, argenex has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.95.

argenex Trading Down 3.2%

ARGX opened at $819.14 on Friday. The company has a fifty day simple moving average of $956.23 and a 200 day simple moving average of $880.73. The firm has a market cap of $51.25 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 0.78 and a beta of 0.44. 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 issued its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping analysts' consensus estimates of $5.86 by $1.46. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. On average, analysts forecast that argenex will post 28.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenex

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in shares of argenex by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 36,417 shares of the company's stock worth $34,921,000 after buying an additional 19,886 shares during the period. Gunderson Capital Management LLC acquired a new position in argenex in the 3rd quarter valued at $5,828,000. Nvwm LLC raised its holdings in argenex by 1.3% in the 3rd quarter. Nvwm LLC now owns 1,538 shares of the company's stock worth $1,475,000 after acquiring an additional 20 shares during the period. Mather Group LLC. raised its holdings in argenex by 19.1% in the 3rd quarter. Mather Group LLC. now owns 81 shares of the company's stock worth $78,000 after acquiring an additional 13 shares during the period. Finally, Sanders Morris Harris LLC bought a new position in argenex in the 3rd quarter worth $1,755,000. 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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