argenex (NASDAQ:ARGX) Upgraded to "Buy" at Wall Street Zen

Key Points

• argenex was upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting positive analyst sentiment towards the stock.
• Multiple research firms, including Piper Sandler and Bank of America, have increased their price targets for argenex, indicating confidence in the company's financial outlook.
• After reporting earnings that exceeded analysts' expectations, argenex's stock price reached $800.00, with a market capitalization of $48.96 billion.

argenex (NASDAQ:ARGX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Friday.

A number of other research firms have also issued reports on ARGX. Piper Sandler boosted their price objective on argenex from $750.00 to $820.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Bank of America boosted their price objective on argenex from $880.00 to $887.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada started coverage on argenex in a research report on Monday, August 25th. They set an "outperform" rating and a $850.00 price objective for the company. Zacks Research raised argenex from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded argenex from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $802.90.

argenex Price Performance

NASDAQ:ARGX traded up $8.41 during midday trading on Friday, reaching $800.00. 353,762 shares of the company traded hands, compared to its average volume of 370,305. argenex has a twelve month low of $510.05 and a twelve month high of $803.74. The firm has a market capitalization of $48.96 billion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 0.86 and a beta of 0.46. The company has a fifty day moving average price of $702.97 and a 200 day moving average price of $621.08.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%.The business had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. On average, equities research analysts forecast that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenex

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of argenex by 6.8% in the 3rd quarter. GAMMA Investing LLC now owns 251 shares of the company's stock worth $185,000 after buying an additional 16 shares in the last quarter. Greenleaf Trust raised its position in shares of argenex by 3.5% during the first quarter. Greenleaf Trust now owns 624 shares of the company's stock worth $369,000 after purchasing an additional 21 shares during the period. Rakuten Securities Inc. raised its position in shares of argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after purchasing an additional 22 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of argenex by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock worth $1,083,000 after purchasing an additional 24 shares during the period. Finally, Main Management ETF Advisors LLC raised its position in shares of argenex by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 1,466 shares of the company's stock worth $808,000 after purchasing an additional 24 shares during the period. Institutional investors own 60.32% of the company's stock.

argenex Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren's syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.

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