argenx (NASDAQ:ARGX) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.
A number of other equities analysts also recently issued reports on ARGX. Piper Jaffray Companies increased their price target on argenx from $161.00 to $182.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Zacks Investment Research downgraded argenx from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Robert W. Baird initiated coverage on argenx in a research report on Thursday, June 27th. They set an “outperform” rating and a $170.00 price target on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $154.00 price target on shares of argenx in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $152.27.
ARGX stock traded down $1.97 during mid-day trading on Thursday, reaching $142.61. 125,354 shares of the company’s stock were exchanged, compared to its average volume of 113,067. The firm has a market capitalization of $4.52 billion, a P/E ratio of -60.69 and a beta of 1.18. The firm has a 50 day moving average of $140.44. argenx has a 12-month low of $63.81 and a 12-month high of $150.92.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of argenx in the first quarter valued at approximately $121,000. SG Americas Securities LLC acquired a new stake in shares of argenx in the first quarter valued at approximately $134,000. First Trust Advisors LP acquired a new stake in shares of argenx in the second quarter valued at approximately $212,000. Virtu Financial LLC acquired a new stake in shares of argenx in the first quarter valued at approximately $217,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of argenx in the first quarter valued at approximately $250,000. Institutional investors and hedge funds own 68.02% of the company’s stock.
argenx Company Profile
argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.
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