Wedbush Reiterates “Outperform” Rating for ARGENX SE-ADR (ARGX)
Wedbush reaffirmed their outperform rating on shares of ARGENX SE-ADR (NASDAQ:ARGX) in a report issued on Thursday morning, The Fly reports. Wedbush currently has a $41.00 price objective on the stock, up from their previous price objective of $26.00. The analysts noted that the move was a valuation call.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of ARGENX SE-ADR from a hold rating to a buy rating and set a $26.00 price target for the company in a research report on Tuesday, October 31st. Cowen and Company reissued a buy rating on shares of ARGENX SE-ADR in a research report on Thursday, August 24th.
Shares of ARGENX SE-ADR (ARGX) opened at $24.19 on Thursday. ARGENX SE-ADR has a 1 year low of $17.33 and a 1 year high of $27.25.
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A number of institutional investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. boosted its holdings in ARGENX SE-ADR by 1.8% in the third quarter. Alyeska Investment Group L.P. now owns 121,313 shares of the company’s stock worth $2,743,000 after purchasing an additional 2,167 shares during the period. Nicholas Investment Partners LP acquired a new position in ARGENX SE-ADR in the second quarter worth $236,000. DAFNA Capital Management LLC acquired a new position in ARGENX SE-ADR in the second quarter worth $848,000. Artal Group S.A. acquired a new position in ARGENX SE-ADR in the third quarter worth $1,229,000. Finally, Tekla Capital Management LLC acquired a new position in ARGENX SE-ADR in the second quarter worth $1,591,000. 24.68% of the stock is owned by hedge funds and other institutional investors.
ARGENX SE-ADR Company Profile
argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The companys lead clinical stage product candidates include ARGX-113, a product in Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis and immune thrombocytopenia; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of hematological cancers, such as T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.
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