argenex (NASDAQ:ARGX) Price Target Raised to $867.00

argenex (NASDAQ:ARGX) had its price target increased by equities research analysts at Robert W. Baird from $858.00 to $867.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 12.37% from the company’s previous close.

Several other equities analysts have also recently weighed in on ARGX. Citigroup lowered their price target on argenex from $1,124.00 to $1,091.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. TD Cowen boosted their price objective on shares of argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Piper Sandler upped their price target on argenex from $820.00 to $930.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. boosted their target price on argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $991.44.

argenex Trading Down 5.6%

Shares of argenex stock opened at $771.53 on Friday. The firm has a market capitalization of $47.74 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 0.71 and a beta of 0.37. argenex has a 12 month low of $510.05 and a 12 month high of $934.62. The business’s fifty day simple moving average is $828.13 and its 200 day simple moving average is $809.87.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, February 26th. The company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.05 by $1.97. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. Analysts predict that argenex will post 3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On argenex

Institutional investors have recently bought and sold shares of the company. Capital World Investors boosted its position in shares of 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 purchasing an additional 8,422 shares during the period. M&T Bank Corp grew its stake in argenex by 20,977.7% during the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock worth $654,772,000 after purchasing an additional 774,916 shares in the last quarter. Wellington Management Group LLP raised its holdings in argenex by 80.1% in the third 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. Morgan Stanley lifted its stake in argenex by 19.2% in the fourth quarter. Morgan Stanley now owns 518,852 shares of the company’s stock worth $436,331,000 after acquiring an additional 83,746 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock worth $350,178,000 after acquiring an additional 331,489 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Company Profile

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.