Wedbush Reaffirms “Outperform” Rating for argenex (NASDAQ:ARGX)

argenex (NASDAQ:ARGX)‘s stock had its “outperform” rating restated by Wedbush in a research note issued on Thursday,Benzinga reports. They currently have a $1,000.00 price target on the stock. Wedbush’s target price indicates a potential upside of 22.98% from the stock’s current price.

A number of other analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded argenex from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Glj Research raised argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Zacks Research upgraded shares of argenex from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Oppenheimer lowered their price objective on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research note on Thursday, April 2nd. Finally, Royal Bank Of Canada dropped their target price on shares of argenex from $925.00 to $890.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, argenex currently has an average rating of “Moderate Buy” and an average price target of $1,019.50.

argenex Trading Up 1.4%

Shares of argenex stock opened at $813.14 on Thursday. argenex has a 12-month low of $510.05 and a 12-month high of $934.62. The stock has a market cap of $50.57 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 1.27 and a beta of 0.47. The company has a 50-day moving average of $787.72 and a two-hundred day moving average of $813.34.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. The business had revenue of $1.31 billion for the quarter. argenex had a return on equity of 33.28% and a net margin of 31.31%. On average, sell-side analysts forecast that argenex will post 25.34 EPS for the current fiscal year.

Institutional Trading of argenex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. American Century Companies Inc. boosted its position in argenex by 11.6% during the third quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock worth $169,474,000 after acquiring an additional 23,864 shares during the last quarter. US Bancorp DE grew its stake 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. Allianz Asset Management GmbH raised 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 valued at $2,708,000 after acquiring an additional 645 shares during the last quarter. Sands Capital Management LLC purchased a new position in shares of argenex during the 3rd quarter worth $12,262,000. Finally, Fiera Capital Corp lifted its stake in shares of argenex by 12.1% during the 3rd quarter. Fiera Capital Corp now owns 177,654 shares of the company’s stock worth $131,030,000 after purchasing an additional 19,180 shares during the period. Hedge funds and other institutional investors 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.