argenex (NASDAQ:ARGX) Price Target Raised to $1,050.00

argenex (NASDAQ:ARGX) had its price objective upped by Wedbush from $1,000.00 to $1,050.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently issued reports on ARGX. Citigroup raised their price objective on argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Glj Research upgraded shares of argenex to a “strong-buy” rating in a report on Friday, April 3rd. Robert W. Baird raised their price target on shares of argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a research report on Monday. HC Wainwright reissued a “buy” rating and set a $940.00 price target on shares of argenex in a research report on Thursday, June 25th. Finally, Bank of America lifted their price objective on shares of argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, argenex currently has an average rating of “Moderate Buy” and a consensus price target of $1,056.89.

argenex Price Performance

NASDAQ ARGX opened at $872.58 on Tuesday. The company has a market cap of $54.59 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 1.16 and a beta of 0.45. The stock’s fifty day moving average price is $874.71 and its 200 day moving average price is $817.37. argenex has a 1 year low of $631.47 and a 1 year high of $953.58.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. Research analysts expect that argenex will post 27.11 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Hedge funds have recently modified their holdings of the company. M&T Bank Corp raised its holdings in argenex by 20,977.7% in 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 during the period. Sands Capital Management LLC boosted its position in argenex by 2,046.6% during the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after purchasing an additional 340,245 shares in the last quarter. Invesco Ltd. grew its holdings in argenex by 390.4% in the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after purchasing an additional 331,489 shares during the period. Wellington Management Group LLP grew 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 purchasing an additional 324,653 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of argenex by 570.3% in the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after buying an additional 250,278 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.