“We believe ARGX’s collaboration agreement with Halozyme Therapeutics (HALO, $16.12, Not Covered) is an important development for the company and the FcRn competitive landscape. Having already validated a small volume subcutaneous dose of efgartigimod, ARGX remains in the lead on this initiative, and we believe the exclusive license signed with HALO for its validated ENHANZE drug delivery technology not only could offer even more dosing convenience for patients, but, based on our understanding from communicating with ARGX, it also prevents other FcRn competitors from collaborating with HALO on a subcutaneous dosing strategy.”,” Stifel Nicolaus’ analyst commented.
A number of other research firms have also recently weighed in on ARGX. Evercore ISI initiated coverage on shares of argenx in a research report on Monday, October 15th. They set an outperform rating and a $110.00 price objective for the company. Wedbush restated an outperform rating and set a $125.00 price objective (down from $130.00) on shares of argenx in a research report on Monday, November 5th. Piper Jaffray Companies upped their price objective on shares of argenx from $154.00 to $161.00 and gave the stock an overweight rating in a research report on Tuesday, December 4th. Zacks Investment Research upgraded shares of argenx from a hold rating to a buy rating and set a $112.00 target price for the company in a research report on Wednesday, December 12th. Finally, Morgan Stanley assumed coverage on shares of argenx in a research report on Friday, January 4th. They issued an overweight rating and a $140.00 target price for the company. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. argenx presently has a consensus rating of Buy and a consensus target price of $140.91.
Shares of ARGX stock traded up $1.30 during trading hours on Monday, hitting $134.59. The company’s stock had a trading volume of 174,226 shares, compared to its average volume of 171,606. argenx has a 12-month low of $63.81 and a 12-month high of $135.58. The company has a market capitalization of $4.08 billion, a P/E ratio of -96.14 and a beta of 1.20.
Institutional investors have recently modified their holdings of the stock. United Services Automobile Association lifted its stake in argenx by 78.9% in the second quarter. United Services Automobile Association now owns 32,200 shares of the company’s stock worth $2,668,000 after acquiring an additional 14,200 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in argenx during the third quarter worth approximately $3,746,000. Artal Group S.A. raised its holdings in argenx by 23.3% during the third quarter. Artal Group S.A. now owns 185,000 shares of the company’s stock worth $14,030,000 after purchasing an additional 35,000 shares in the last quarter. Gabelli Funds LLC acquired a new stake in argenx during the third quarter worth approximately $2,844,000. Finally, Dimensional Fund Advisors LP raised its holdings in argenx by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,559 shares of the company’s stock worth $626,000 after purchasing an additional 1,366 shares in the last quarter. Institutional investors own 65.55% of the company’s stock.
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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