argenex (NASDAQ:ARGX) Given New $1,040.00 Price Target at Morgan Stanley

argenex (NASDAQ:ARGX) had its price target boosted by Morgan Stanley from $766.00 to $1,040.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages also recently weighed in on ARGX. Stifel Nicolaus set a $882.00 target price on argenex in a report on Thursday, September 18th. Bank of America increased their price target on argenex from $880.00 to $887.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Zacks Research upgraded argenex from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 22nd. Wall Street Zen cut argenex from a “buy” rating to a “hold” rating in a research note on Sunday, September 14th. Finally, Wells Fargo & Company increased their price target on argenex from $741.00 to $756.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $802.90.

argenex Trading Up 1.1%

argenex stock opened at $800.00 on Wednesday. argenex has a 12 month low of $510.05 and a 12 month high of $803.74. The stock’s 50 day moving average is $702.97 and its 200-day moving average is $621.08. The company has a market capitalization of $48.96 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 0.86 and a beta of 0.46.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.90. The business had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. As a group, equities research analysts predict that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenex

Several large investors have recently added to or reduced their stakes in ARGX. Whipplewood Advisors LLC grew its stake in argenex by 350.0% during the first quarter. Whipplewood Advisors LLC now owns 270 shares of the company’s stock worth $160,000 after purchasing an additional 210 shares during the period. Park Avenue Securities LLC grew its stake in argenex by 6.4% during the first quarter. Park Avenue Securities LLC now owns 1,804 shares of the company’s stock worth $1,068,000 after purchasing an additional 109 shares during the period. Handelsbanken Fonder AB grew its stake in argenex by 13.1% during the first quarter. Handelsbanken Fonder AB now owns 38,050 shares of the company’s stock worth $22,520,000 after purchasing an additional 4,403 shares during the period. Assenagon Asset Management S.A. grew its stake in argenex by 215.8% in the first quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company’s stock valued at $65,336,000 after acquiring an additional 75,435 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in argenex by 41.6% in the first quarter. Janney Montgomery Scott LLC now owns 1,141 shares of the company’s stock valued at $675,000 after acquiring an additional 335 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

About argenex

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.