argenex (NASDAQ:ARGX) Given New $1,356.00 Price Target at Wells Fargo & Company

argenex (NASDAQ:ARGX) had its target price raised by Wells Fargo & Company from $1,355.00 to $1,356.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 63.56% from the company’s previous close.

Several other research analysts have also commented on ARGX. Wall Street Zen lowered shares of argenex from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Citizens Jmp lifted their target price on shares of argenex from $932.00 to $1,200.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 18th. DZ Bank reaffirmed a “buy” rating on shares of argenex in a research note on Friday, October 9th. Wedbush reduced their price target on shares of argenex from $1,150.00 to $1,130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 8th. Finally, Morgan Stanley increased their price target on shares of argenex from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, argenex presently has a consensus rating of “Moderate Buy” and an average price target of $1,151.95.

argenex Stock Up 3.3%

Shares of ARGX traded up $26.43 during mid-day trading on Wednesday, hitting $829.08. 114,252 shares of the company’s stock traded hands, compared to its average volume of 343,935. argenex has a 1 year low of $661.85 and a 1 year high of $1,072.75. The firm has a market capitalization of $51.87 billion, a P/E ratio of 31.84, a PEG ratio of 0.85 and a beta of 0.44. The business’s 50-day moving average price is $958.72 and its 200-day moving average price is $879.19.

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

Hedge Funds Weigh In On argenex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its position in shares of argenex by 97.8% in the 2nd quarter. Tidal Investments LLC now owns 2,362 shares of the company’s stock worth $2,191,000 after buying an additional 1,168 shares during the period. Squarepoint Ops LLC lifted its position in argenex by 314.8% during the 2nd quarter. Squarepoint Ops LLC now owns 58,400 shares of the company’s stock valued at $54,182,000 after acquiring an additional 44,321 shares during the period. Peregrine Capital Management LLC purchased a new position in argenex during the 2nd quarter valued at about $27,584,000. Optiver Holding B.V. lifted its position in argenex by 907.0% during the 1st quarter. Optiver Holding B.V. now owns 10,110 shares of the company’s stock valued at $7,383,000 after acquiring an additional 9,106 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in argenex by 3.4% during the first quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock worth $1,847,592,000 after acquiring an additional 83,568 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).