argenex SE (NASDAQ:ARGX) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately bullish: Twenty-four analysts give argenex a consensus “Moderate Buy” rating, including 18 buys, two strong buys and four holds. The average 12-month price target is approximately $1,056.89.
• argenex exceeded quarterly expectations: The company reported earnings of $7.32 per share versus the $5.86 consensus estimate, while revenue reached $1.54 billion, above forecasts of $1.45 billion.
• Institutional ownership remains significant: Hedge funds and other institutional investors own 60.32% of the stock, with several major firms substantially increasing their positions.

Shares of argenex SE (NASDAQ:ARGX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-four research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $1,056.8889.

ARGX has been the topic of a number of analyst reports. Wall Street Zen cut shares of argenex from a "buy" rating to a "hold" rating in a research report on Saturday. Oppenheimer increased their target price on shares of argenex from $1,014.00 to $1,037.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Morgan Stanley upped their price target on argenex from $1,170.00 to $1,180.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Citigroup increased their price objective on argenex from $1,152.00 to $1,182.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Finally, Citizens Jmp cut their price objective on argenex from $944.00 to $932.00 and set a "market outperform" rating on the stock in a research report on Friday, July 24th.

argenex Price Performance

Shares of argenex stock 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's 50 day simple moving average is $881.73 and its two-hundred day simple moving average is $821.20. The stock has a market capitalization of $53.26 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 1.06 and a beta of 0.46.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.45 billion. Sell-side analysts expect that argenex will post 28.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its stake in shares of argenex by 20,977.7% during the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company's stock valued at $654,772,000 after purchasing an additional 774,916 shares in the last quarter. Sands Capital Management LLC boosted its position in argenex by 2,046.6% during the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company's stock valued at $300,110,000 after acquiring an additional 340,245 shares in the last quarter. Invesco Ltd. grew its holdings in shares of 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 acquiring an additional 331,489 shares during the period. Wellington Management Group LLP raised its position in shares of argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company's stock worth $538,408,000 after acquiring an additional 324,653 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of argenex by 570.3% in the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company's stock valued at $216,961,000 after purchasing an additional 250,278 shares during the period. 60.32% of the stock is owned by hedge funds and other 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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