argenx (NASDAQ:ARGX) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of argenx (NASDAQ:ARGX) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “argenx SE is a biopharmaceutical company. It focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company’s product pipeline consists of ARGX-113, ARGX-110 and ARGX-111 which are in clinical trials. argenx SE is based in Breda, the Netherlands. “

ARGX has been the topic of several other reports. Piper Jaffray Companies raised their target price on shares of argenx from $161.00 to $182.00 and gave the stock an overweight rating in a report on Thursday, May 23rd. Morgan Stanley raised their target price on shares of argenx from $143.00 to $173.00 and gave the stock an overweight rating in a report on Tuesday. Wedbush raised their target price on shares of argenx from $144.00 to $170.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Stifel Nicolaus reaffirmed a buy rating and set a $154.00 target price on shares of argenx in a report on Thursday, August 1st. Finally, ValuEngine cut shares of argenx from a buy rating to a hold rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $155.27.

Shares of ARGX opened at $142.36 on Tuesday. argenx has a 12 month low of $63.81 and a 12 month high of $150.92. The stock’s 50 day simple moving average is $141.88. The company has a market capitalization of $4.32 billion, a PE ratio of -60.58 and a beta of 1.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.37 and a quick ratio of 14.29.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of argenx during the 1st quarter worth approximately $217,000. EAM Global Investors LLC boosted its position in argenx by 47.0% in the first quarter. EAM Global Investors LLC now owns 25,107 shares of the company’s stock valued at $3,134,000 after buying an additional 8,031 shares in the last quarter. Redmile Group LLC boosted its position in argenx by 6.0% in the first quarter. Redmile Group LLC now owns 1,019,061 shares of the company’s stock valued at $127,220,000 after buying an additional 58,100 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in argenx in the first quarter valued at approximately $374,000. Finally, FMR LLC boosted its position in argenx by 6.1% in the first quarter. FMR LLC now owns 3,699,956 shares of the company’s stock valued at $461,903,000 after buying an additional 212,904 shares in the last quarter. Institutional investors and hedge funds own 68.02% of the company’s stock.

About argenx

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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