argenex (NASDAQ:ARGX) Price Target Raised to $1,180.00

argenex (NASDAQ:ARGX) had its target price lifted by equities research analysts at Morgan Stanley from $1,170.00 to $1,180.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 38.27% from the company’s current price.

ARGX has been the topic of a number of other reports. Citizens Jmp upped their target price on shares of argenex from $925.00 to $944.00 and gave the stock a “market outperform” rating in a research report on Friday, February 27th. Oppenheimer lowered their price target on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating for the company in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of argenex from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Wedbush reaffirmed an “outperform” rating and set a $1,000.00 price objective on shares of argenex in a report on Thursday, June 11th. Finally, Robert W. Baird increased their price objective on argenex from $858.00 to $867.00 and gave the company a “neutral” rating in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.39.

argenex Stock Down 5.6%

argenex stock opened at $853.40 on Wednesday. The stock has a 50-day simple moving average of $827.60 and a 200 day simple moving average of $809.89. argenex has a 12-month low of $510.05 and a 12-month high of $934.62. The stock has a market capitalization of $53.07 billion, a price-to-earnings ratio of 38.00, a P/E/G ratio of 1.38 and a beta of 0.47.

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

Institutional Investors Weigh In On argenex

Institutional investors have recently modified their holdings of the business. Abound Wealth Management lifted its holdings in 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 buying an additional 32 shares during the period. Sound Income Strategies LLC acquired a new stake in argenex during the 4th quarter worth $28,000. Whipplewood Advisors LLC bought a new stake in shares of argenex during the 1st quarter valued at $28,000. Ameriflex Group Inc. bought a new stake in shares of argenex during the 3rd quarter valued at $32,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of argenex during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.