argenex’s (ARGX) Buy Rating Reaffirmed at DZ Bank

DZ Bank reaffirmed their buy rating on shares of argenex (NASDAQ:ARGX) in a research report report published on Friday.

ARGX has been the subject of several other reports. Morgan Stanley raised their price target on shares of argenex from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Monday, August 31st. Truist Financial boosted their price objective on shares of argenex from $1,030.00 to $1,095.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada upped their price objective on shares of argenex from $1,025.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. UBS Group upgraded shares of argenex from a “neutral” rating to a “buy” rating and upped their price objective for the company from $960.00 to $1,400.00 in a research note on Wednesday, August 26th. Finally, Piper Sandler increased their target price on shares of argenex from $1,075.00 to $1,215.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,158.32.

argenex Stock Performance

NASDAQ:ARGX traded down $7.14 during trading hours on Friday, hitting $817.89. 111,911 shares of the company’s stock traded hands, compared to its average volume of 345,039. The stock’s fifty day moving average price is $959.93 and its two-hundred day moving average price is $877.49. The firm has a market cap of $51.17 billion, a P/E ratio of 31.41, a P/E/G ratio of 0.86 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) last announced 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 during the quarter, compared to analyst estimates of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. On average, equities research analysts predict that argenex will post 28.83 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Several institutional investors have recently made changes to their positions in ARGX. Eastern Bank acquired a new position in shares of argenex during the second quarter worth approximately $32,000. Whipplewood Advisors LLC bought a new stake in shares of argenex in the first quarter valued at approximately $28,000. Axiom Investment Management LLC bought a new stake in shares of argenex in the first quarter valued at approximately $50,000. WPG Advisers LLC raised its stake in argenex by 17.8% during the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after purchasing an additional 13 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in argenex by 25.7% in the 2nd quarter. Allworth Financial LP now owns 142 shares of the company’s stock valued at $132,000 after purchasing an additional 29 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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).