argenex (NASDAQ:ARGX) Receives “Outperform” Rating from Wedbush

argenex (NASDAQ:ARGX)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a report released on Thursday,Benzinga reports. They currently have a $1,000.00 target price on the stock. Wedbush’s price target points to a potential upside of 22.98% from the stock’s current price.

Other analysts also recently issued reports about the company. Glj Research upgraded argenex to a “strong-buy” rating in a report on Friday, April 3rd. Royal Bank Of Canada reduced their target price on argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Zacks Research upgraded argenex from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Deutsche Bank Aktiengesellschaft upgraded argenex from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a report on Monday, April 20th. Two 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,019.50.

argenex Price Performance

Shares of ARGX stock opened at $813.14 on Thursday. The firm’s 50-day simple moving average is $787.72 and its 200-day simple moving average is $813.34. argenex has a 1-year low of $510.05 and a 1-year high of $934.62. The firm has a market cap of $50.57 billion, a P/E ratio of 36.20, a PEG ratio of 1.27 and a beta of 0.47.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. The firm had revenue of $1.31 billion during the quarter. argenex had a net margin of 31.31% and a return on equity of 33.28%. Analysts expect that argenex will post 25.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in shares of argenex by 11.6% during the 3rd quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock valued at $169,474,000 after buying an additional 23,864 shares during the period. Allianz Asset Management GmbH boosted its holdings in argenex by 21.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 3,671 shares of the company’s stock worth $2,708,000 after acquiring an additional 645 shares during the period. US Bancorp DE boosted its holdings in argenex by 37.2% in the 3rd quarter. US Bancorp DE now owns 7,073 shares of the company’s stock worth $5,217,000 after acquiring an additional 1,919 shares during the period. Sands Capital Management LLC acquired a new stake in argenex in the third quarter valued at approximately $12,262,000. Finally, Candriam S.C.A. raised its stake in shares of argenex by 5.8% during the third quarter. Candriam S.C.A. now owns 48,200 shares of the company’s stock valued at $35,550,000 after purchasing an additional 2,633 shares during the period. 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.