JPMorgan Chase & Co. Issues Positive Forecast for argenex (NASDAQ:ARGX) Stock Price

by · The Cerbat Gem

argenex (NASDAQ:ARGX – Get Free Report) had its price objective boosted by JPMorgan Chase & Co. from $925.00 to $1,100.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 20.90% from the company’s previous close.

A number of other brokerages have also commented on ARGX. Truist Financial raised their target price on argenex from $700.00 to $918.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. HC Wainwright upped their target price on shares of argenex from $774.00 to $915.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wolfe Research reaffirmed a “peer perform” rating on shares of argenex in a report on Monday, November 24th. Wedbush upped their price objective on argenex from $880.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of argenex in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $917.39.

View Our Latest Analysis on argenex

argenex Stock Performance

Shares of ARGX traded up $8.65 during trading hours on Monday, reaching $909.82. 85,955 shares of the company traded hands, compared to its average volume of 369,488. The stock’s fifty day moving average is $850.63 and its 200 day moving average is $707.41. argenex has a 1-year low of $510.05 and a 1-year high of $934.62. The stock has a market cap of $56.02 billion, a P/E ratio of 39.05, a price-to-earnings-growth ratio of 0.91 and a beta of 0.36.

argenex (NASDAQ:ARGX – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.37 by $0.03. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. argenex had a return on equity of 29.78% and a net margin of 41.58%. On average, equities research analysts predict that argenex will post 3.13 EPS for the current year.

Institutional Trading of argenex

A number of hedge funds and other institutional investors have recently made changes to their positions in ARGX. Capital World Investors lifted its position in argenex by 0.4% during the 3rd quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock worth $1,445,113,000 after buying an additional 8,422 shares in the last quarter. Wellington Management Group LLP increased its position in argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after acquiring an additional 324,653 shares in the last quarter. Bank of America Corp DE raised its stake in shares of argenex by 1.9% in the third quarter. Bank of America Corp DE now owns 342,379 shares of the company’s stock worth $252,525,000 after acquiring an additional 6,259 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of argenex by 114.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after purchasing an additional 158,476 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of argenex by 570.3% during the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after purchasing an additional 250,278 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

About argenex

(Get Free Report)

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.

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