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

argenx (NASDAQ:ARGX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, 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. “

A number of other brokerages have also recently issued reports on ARGX. Stifel Nicolaus set a $154.00 price objective on shares of argenx and gave the company a “buy” rating in a report on Wednesday, May 22nd. Piper Jaffray Companies lifted their price objective on shares of argenx from $161.00 to $182.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Finally, Wedbush lifted their price objective on shares of argenx from $131.00 to $144.00 and gave the company an “outperform” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. argenx currently has an average rating of “Buy” and an average price target of $149.09.

Shares of NASDAQ ARGX traded down $4.19 during mid-day trading on Wednesday, reaching $135.07. 139,023 shares of the company’s stock traded hands, compared to its average volume of 180,464. The company has a market capitalization of $4.49 billion, a PE ratio of -57.48 and a beta of 1.22. The business has a 50-day moving average of $127.35. argenx has a 1-year low of $63.81 and a 1-year high of $142.32.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARGX. Partner Investment Management L.P. bought a new position in shares of argenx during the fourth quarter valued at about $110,000. Marshall Wace LLP bought a new stake in argenx in the first quarter worth about $121,000. SG Americas Securities LLC bought a new stake in argenx in the first quarter worth about $134,000. Brown Advisory Securities LLC bought a new stake in argenx in the fourth quarter worth about $217,000. Finally, Virtu Financial LLC bought a new stake in argenx in the first quarter worth about $217,000. 68.04% of the stock is currently owned by institutional investors.

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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