argenex (NASDAQ:ARGX) Given New $1,130.00 Price Target at Morgan Stanley

argenex (NASDAQ:ARGX) had its target price lowered by Morgan Stanley from $1,190.00 to $1,130.00 in a research report report published on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. DZ Bank restated a “buy” rating on shares of argenex in a research report on Friday, October 9th. Deutsche Bank reiterated a “neutral” rating on shares of argenex in a research report on Friday, October 9th. Wall Street Zen lowered argenex from a “buy” rating to a “hold” rating in a research note on Sunday, October 25th. JPMorgan Chase & Co. reissued a “buy” rating on shares of argenex in a report on Wednesday, August 5th. Finally, Piper Sandler raised their target price on argenex from $1,075.00 to $1,215.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, argenex currently has an average rating of “Moderate Buy” and a consensus price target of $1,155.24.

argenex Trading Down 2.2%

Shares of ARGX stock opened at $960.04 on Friday. The stock has a market capitalization of $60.37 billion, a P/E ratio of 33.50, a PEG ratio of 0.91 and a beta of 0.48. The firm’s 50 day moving average is $923.87 and its 200 day moving average is $860.78. argenex has a 12 month low of $661.85 and a 12 month high of $1,072.75.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Friday, October 23rd. The company reported $7.80 earnings per share for the quarter, beating analysts’ consensus estimates of $7.44 by $0.36. argenex had a net margin of 31.66% and a return on equity of 47.70%. The business had revenue of $1.75 billion during the quarter. On average, equities analysts predict that argenex will post 28.41 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its position in shares of argenex by 0.8% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 10,065 shares of the company’s stock valued at $9,651,000 after purchasing an additional 83 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of argenex by 12.4% in the third quarter. Benjamin Edwards Inc. now owns 254 shares of the company’s stock worth $244,000 after buying an additional 28 shares in the last quarter. First Trust Advisors LP raised its position in shares of argenex by 9.8% in the third quarter. First Trust Advisors LP now owns 111,378 shares of the company’s stock worth $106,801,000 after buying an additional 9,938 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in argenex during the third quarter valued at $7,124,000. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in argenex by 28.3% during the third quarter. Edmond DE Rothschild Holding S.A. now owns 1,895 shares of the company’s stock valued at $1,817,000 after buying an additional 418 shares during the period. 60.32% of the stock is owned by institutional investors.

argenex Company Profile

argenx SE is a global immunology company focused on developing medicines for autoimmune diseases. Founded in 2008 and headquartered in the Netherlands, the company uses antibody engineering and other research approaches to identify and develop treatments for conditions with significant unmet medical needs. Its lead medicine is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo. These products target the neonatal Fc receptor (FcRn) and are approved in the United States for certain patients with generalized myasthenia gravis; Vyvgart Hytrulo is also approved for chronic inflammatory demyelinating polyneuropathy. argenx continues to study efgartigimod in additional diseases and develop other potential therapies. argenx operates internationally, with commercial activities and research collaborations across multiple markets.