argenex (NASDAQ:ARGX) Price Target Raised to $1,317.00

by · The Cerbat Gem

argenex (NASDAQ:ARGX – Free Report) had its target price boosted by Wells Fargo & Company from $1,264.00 to $1,317.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on the company. Wall Street Zen cut argenex from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Stifel Nicolaus upped their target price on argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Evercore ISI raised their target price on argenex from $775.00 to $910.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Truist Financial boosted their price target on shares of argenex from $950.00 to $1,030.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Citigroup dropped their price objective on shares of argenex from $1,124.00 to $1,091.00 and set a “buy” rating for the company in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $986.78.

Get Our Latest Research Report on ARGX

argenex Price Performance

Shares of argenex stock opened at $827.02 on Tuesday. The stock has a market capitalization of $51.18 billion, a P/E ratio of 35.51, a PEG ratio of 0.52 and a beta of 0.38. The business has a 50 day simple moving average of $861.34 and a two-hundred day simple moving average of $769.41. argenex has a 12 month low of $510.05 and a 12 month high of $934.62.

argenex (NASDAQ:ARGX – Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported $4.40 EPS for the quarter, beating the consensus estimate of $4.37 by $0.03. argenex had a return on equity of 29.78% and a net margin of 41.58%.The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. As a group, research analysts anticipate that argenex will post 3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On argenex

Several institutional investors have recently bought and sold shares of the company. Abound Wealth Management boosted its stake 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 period. Sound Income Strategies LLC purchased a new stake in argenex during the 4th quarter worth approximately $28,000. Ameriflex Group Inc. purchased a new position in shares of argenex in the 3rd quarter valued at about $32,000. Sunbelt Securities Inc. purchased a new stake in shares of argenex during the third quarter worth approximately $36,000. Finally, Aventura Private Wealth LLC acquired a new stake in argenex in the fourth quarter valued at approximately $38,000. 60.32% of the stock is owned by institutional investors and hedge funds.

argenex Company Profile

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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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