argenex (NASDAQ:ARGX) Stock Gets Price Target Cut from Oppenheimer

argenex (NASDAQ:ARGX) had its price target decreased by Oppenheimer from $1,100.00 to $1,038.00 in a research report report published on Monday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Sanford C. Bernstein restated a “buy” rating on shares of argenex in a research note on Thursday, October 8th. Royal Bank Of Canada increased their price target on argenex from $1,025.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 18th. Wedbush decreased their price target on argenex from $1,150.00 to $1,130.00 and set an “outperform” rating on the stock in a report on Thursday, October 8th. DZ Bank restated a “buy” rating on shares of argenex in a research report on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “neutral” rating on shares of argenex in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,151.95.

argenex Price Performance

Shares of NASDAQ:ARGX opened at $818.30 on Monday. The company has a market capitalization of $51.19 billion, a P/E ratio of 31.42, a P/E/G ratio of 0.74 and a beta of 0.44. argenex has a 1-year low of $661.85 and a 1-year high of $1,072.75. The firm’s 50 day simple moving average is $957.73 and its two-hundred day simple moving average is $880.07.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. On average, sell-side analysts anticipate that argenex will post 28.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenex

Several hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its holdings in argenex by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock valued at $1,847,592,000 after acquiring an additional 83,568 shares during the last quarter. Sands Capital Management LLC boosted its holdings in shares of argenex by 2,046.6% during the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock valued at $300,110,000 after purchasing an additional 340,245 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of argenex by 3.4% during the 1st quarter. Jennison Associates LLC now owns 237,468 shares of the company’s stock valued at $173,411,000 after purchasing an additional 7,707 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of argenex by 1.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 175,311 shares of the company’s stock valued at $130,277,000 after purchasing an additional 2,579 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of argenex by 98.9% during the first quarter. First Trust Advisors LP now owns 107,195 shares of the company’s stock valued at $78,279,000 after purchasing an additional 53,293 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Company Profile

argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx’s leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).