argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a report released on Thursday, AnalystRatings.com reports. They currently have a $154.00 target price on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 7.99% from the stock’s previous close.
The analysts wrote, “We are reiterating our Buy rating on ARGX shares after the company reported its 2Q19 financials and business update. While we acknowledge the valuation at these levels and the relatively quiet catalyst calendar over the next several months, we continue to view ARGX’s efgartigimod as best positioned in the anti-FcRn class given: (1) its first mover advantage; (2) its ability to be dosed via a low dose, subcutaneous injection for potential chronic therapy; and (3) it has generated proof-of-concept data in three indications (gMG, ITP, PV) and has been well tolerated, the latter of which differentiates it from other programs in the class. So we’d own the stock.””
A number of other equities analysts have also commented on the company. Zacks Investment Research lowered argenx from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Piper Jaffray Companies increased their price target on argenx from $161.00 to $182.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Robert W. Baird initiated coverage on argenx in a research note on Thursday, June 27th. They set an “outperform” rating and a $170.00 price target for the company. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $152.27.
Large investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in shares of argenx in the 1st quarter valued at approximately $121,000. SG Americas Securities LLC bought a new stake in shares of argenx in the 1st quarter valued at approximately $134,000. First Trust Advisors LP bought a new stake in shares of argenx in the 2nd quarter valued at approximately $212,000. Virtu Financial LLC bought a new stake in shares of argenx in the 1st quarter valued at approximately $217,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of argenx in the 1st quarter valued at approximately $250,000. 68.02% of the stock is owned by institutional investors and hedge funds.
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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