argenex’s (ARGX) Outperform Rating Reiterated at Wedbush

by · The Markets Daily

Wedbush reaffirmed their outperform rating on shares of argenex (NASDAQ:ARGX – Free Report) in a report released on Monday,Benzinga reports. Wedbush currently has a $1,000.00 target price on the stock.

A number of other research analysts have also issued reports on the company. Wells Fargo & Company decreased their target price on argenex from $1,317.00 to $1,247.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Royal Bank Of Canada reduced their price target on argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Guggenheim lowered their price objective on argenex from $1,160.00 to $1,120.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Wolfe Research reaffirmed a “peer perform” rating on shares of argenex in a report on Monday, November 24th. Finally, Wall Street Zen downgraded shares of argenex from a “buy” rating to a “hold” rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, argenex has a consensus rating of “Moderate Buy” and a consensus target price of $999.22.

View Our Latest Stock Analysis on ARGX

argenex Stock Down 2.0%

Shares of NASDAQ ARGX opened at $728.09 on Monday. The business’s 50 day moving average is $809.43 and its two-hundred day moving average is $816.56. argenex has a 52-week low of $510.05 and a 52-week high of $934.62. The firm has a market cap of $45.05 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 1.23 and a beta of 0.38.

argenex (NASDAQ:ARGX – Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.05 by $1.97. argenex had a net margin of 30.42% and a return on equity of 38.51%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Analysts anticipate that argenex will post 3.13 EPS for the current fiscal year.

Institutional Trading of argenex

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Abound Wealth Management grew its position in shares of argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after purchasing an additional 32 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of argenex in the fourth quarter worth $28,000. Ameriflex Group Inc. acquired a new position in shares of argenex in the third quarter worth $32,000. Sunbelt Securities Inc. purchased a new stake in shares of argenex in the third quarter valued at $36,000. Finally, Aventura Private Wealth LLC acquired a new stake in shares of argenex during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

About argenex

(Get Free Report)

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

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