argenex (NASDAQ:ARGX) Earns Outperform Rating from Wedbush

argenex (NASDAQ:ARGX)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued to investors on Thursday,Benzinga reports. They presently have a $1,000.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 12.76% from the company’s previous close.

Several other equities analysts have also weighed in on ARGX. Guggenheim increased their price objective on shares of argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a research report on Friday, May 8th. HC Wainwright lifted their target price on shares of argenex from $915.00 to $940.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Zacks Research upgraded shares of argenex from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Citizens Jmp increased their price target on shares of argenex from $925.00 to $944.00 and gave the company a “market outperform” rating in a report on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of argenex from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.50.

argenex Trading Up 2.9%

Shares of NASDAQ ARGX opened at $886.88 on Thursday. The company has a market capitalization of $55.15 billion, a P/E ratio of 39.39, a P/E/G ratio of 1.35 and a beta of 0.47. argenex has a 12 month low of $510.05 and a 12 month high of $934.62. The stock has a 50 day moving average of $805.71 and a 200-day moving average of $811.74.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%.The business had revenue of $1.31 billion for the quarter. Analysts predict that argenex will post 26.19 EPS for the current fiscal year.

Institutional Trading of argenex

Several institutional investors and hedge funds have recently modified their holdings of the business. Abound Wealth Management boosted its stake in shares of argenex by 3,200.0% in the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after purchasing an additional 32 shares in the last quarter. Sound Income Strategies LLC acquired a new position in argenex during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new position in argenex during the 1st quarter worth approximately $28,000. Ameriflex Group Inc. bought a new position in argenex in the 3rd quarter valued at approximately $32,000. Finally, Sunbelt Securities Inc. bought a new position in argenex in the 3rd quarter valued at approximately $36,000. 60.32% of the stock is currently owned by institutional investors.

About argenex

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.