argenex (NASDAQ:ARGX) Given New $1,202.00 Price Target at HC Wainwright

argenex (NASDAQ:ARGX) had its target price upped by stock analysts at HC Wainwright from $940.00 to $1,202.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 21.68% from the stock’s current price.

A number of other brokerages have also recently weighed in on ARGX. Robert W. Baird lifted their price objective on shares of argenex from $867.00 to $932.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Wedbush increased their target price on shares of argenex from $1,000.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Wall Street Zen cut shares of argenex from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings downgraded shares of argenex from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Finally, Citigroup upped their price objective on argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,087.28.

argenex Price Performance

Shares of argenex stock opened at $987.84 on Tuesday. The stock has a market capitalization of $61.80 billion, a price-to-earnings ratio of 37.94, a price-to-earnings-growth ratio of 1.05 and a beta of 0.46. The business has a 50-day moving average of $883.84 and a 200 day moving average of $821.99. argenex has a 12 month low of $650.01 and a 12 month high of $1,002.16.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 32.19% and a return on equity of 43.59%. Equities research analysts anticipate that argenex will post 28.77 earnings per share for the current year.

Hedge Funds Weigh In On argenex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new position in argenex in the first quarter valued at approximately $28,000. Eastern Bank acquired a new stake in argenex during the second quarter worth approximately $32,000. Sunbelt Securities Inc. purchased a new stake in shares of argenex during the 3rd quarter worth approximately $36,000. Axiom Investment Management LLC acquired a new position in shares of argenex in the 1st quarter valued at $50,000. Finally, WPG Advisers LLC boosted its holdings in shares of argenex by 17.8% in the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after buying an additional 13 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

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.