argenex (NASDAQ:ARGX) Price Target Raised to $1,415.00

argenex (NASDAQ:ARGX) had its price target increased by Wells Fargo & Company from $1,350.00 to $1,415.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on ARGX. Piper Sandler lifted their price target on shares of argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Royal Bank Of Canada upped their target price on shares of argenex from $1,025.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 18th. Robert W. Baird raised their price target on shares of argenex from $867.00 to $932.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Guggenheim started coverage on argenex in a report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 price objective on the stock. Finally, Bank of America increased their price objective on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,157.50.

argenex Stock Performance

Shares of argenex stock opened at $1,023.21 on Wednesday. argenex has a twelve month low of $661.85 and a twelve month high of $1,061.57. The firm has a market cap of $64.01 billion, a P/E ratio of 39.29, a price-to-earnings-growth ratio of 1.10 and a beta of 0.46. The firm’s 50-day simple moving average is $910.13 and its 200-day simple moving average is $834.13.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. On average, equities analysts forecast that argenex will post 29.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. raised its holdings in argenex by 2.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock worth $372,000 after purchasing an additional 12 shares during the period. Valeo Financial Advisors LLC raised its stake in argenex by 0.9% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company’s stock worth $1,153,000 after buying an additional 12 shares during the period. CI Investments Inc. lifted its holdings in argenex by 2.6% during the fourth quarter. CI Investments Inc. now owns 469 shares of the company’s stock worth $394,000 after acquiring an additional 12 shares in the last quarter. Allworth Financial LP grew its stake in argenex by 12.7% in the fourth quarter. Allworth Financial LP now owns 115 shares of the company’s stock valued at $97,000 after acquiring an additional 13 shares during the period. Finally, WPG Advisers LLC raised its holdings in argenex by 17.8% during the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.