argenex (NASDAQ:ARGX) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded argenx from “Buy” to “Hold,” though the broader analyst consensus remains “Moderate Buy” with an average price target of $1,056.89.
• argenx reported quarterly EPS of $7.32, beating estimates of $5.86, while revenue reached $1.54 billion versus expectations of $1.45 billion.
• ARGX opened at $851.29, with a one-year range of $645.16 to $953.58; institutional investors own approximately 60.32% of the company’s stock.

argenex (NASDAQ:ARGX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other equities research analysts also recently weighed in on ARGX. Citigroup lifted their price target on shares of argenex from $1,152.00 to $1,182.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Oppenheimer boosted their target price on argenex from $1,014.00 to $1,037.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Royal Bank Of Canada increased their price target on argenex from $945.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. HC Wainwright reissued a "buy" rating and issued a $940.00 price objective on shares of argenex in a research note on Thursday, June 25th. Finally, Wells Fargo & Company boosted their price objective on argenex from $1,260.00 to $1,291.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,056.89.

argenex Price Performance

NASDAQ ARGX opened at $851.29 on Friday. argenex has a one year low of $645.16 and a one year high of $953.58. The business has a 50 day simple moving average of $881.73 and a 200 day simple moving average of $821.20. The stock has a market capitalization of $53.26 billion, a P/E ratio of 32.69, a P/E/G ratio of 1.06 and a beta of 0.46.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.45 billion. Equities analysts expect that argenex will post 28.77 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Several hedge funds and other institutional investors have recently made changes to their positions in the business. M&T Bank Corp lifted its position in argenex by 20,977.7% in the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company's stock valued at $654,772,000 after acquiring an additional 774,916 shares in the last quarter. Sands Capital Management LLC increased its holdings in argenex by 2,046.6% during 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. Invesco Ltd. increased its holdings in argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company's stock worth $350,178,000 after purchasing an additional 331,489 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of argenex by 80.1% in the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company's stock worth $538,408,000 after purchasing an additional 324,653 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of argenex by 570.3% in the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company's stock worth $216,961,000 after purchasing an additional 250,278 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

About argenex

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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