argenex's (ARGX) Hold (C) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "hold (c)" rating for argenex (ARGX), while various other analysts provide mixed ratings, including "buy" from Guggenheim and "outperform" from Wedbush.
• Shares of ARGX saw a slight increase, trading at $817.32, and have a market capitalization of $50.32 billion with a PE ratio of 41.91.
• Institutional ownership has increased, with firms like Goldman Sachs and Amundi boosting their stakes in the company, which currently holds 60.32% of its shares owned by institutional investors.

argenex (NASDAQ:ARGX - Get Free Report)'s stock had its "hold (c)" rating restated by research analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

ARGX has been the topic of several other reports. Guggenheim reissued a "buy" rating and set a $1,070.00 price target on shares of argenex in a research report on Thursday, September 18th. Jefferies Financial Group set a $818.00 price target on argenex and gave the company a "buy" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. upped their price target on argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft lowered argenex from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Finally, Wedbush upped their price objective on argenex from $800.00 to $880.00 and gave the stock an "outperform" rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, argenex presently has an average rating of "Moderate Buy" and a consensus price target of $817.53.

argenex Price Performance

Shares of ARGX stock traded up $5.14 on Friday, hitting $817.32. 198,858 shares of the stock traded hands, compared to its average volume of 372,767. The company has a market capitalization of $50.32 billion, a PE ratio of 41.91, a PEG ratio of 0.88 and a beta of 0.46. argenex has a 1-year low of $510.05 and a 1-year high of $855.46. The company's fifty day moving average is $749.39 and its 200 day moving average is $642.73.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in shares of argenex by 14.8% in the first quarter. Goldman Sachs Group Inc. now owns 168,765 shares of the company's stock worth $99,886,000 after purchasing an additional 21,805 shares in the last quarter. Amundi grew its stake in shares of argenex by 8.1% in the first quarter. Amundi now owns 6,351 shares of the company's stock worth $3,747,000 after purchasing an additional 478 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of argenex by 5.2% in the first quarter. Voya Investment Management LLC now owns 14,905 shares of the company's stock worth $8,822,000 after purchasing an additional 735 shares in the last quarter. Wealth Management Associates Inc. bought a new position in shares of argenex in the first quarter worth $268,000. Finally, Royal Bank of Canada grew its stake in shares of argenex by 0.9% in the first quarter. Royal Bank of Canada now owns 38,306 shares of the company's stock worth $22,673,000 after purchasing an additional 353 shares in the last quarter. 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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