argenex (NASDAQ:ARGX) Research Coverage Started at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of argenex (NASDAQ:ARGX) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $850.00 price target on the stock.

A number of other research analysts also recently commented on ARGX. Robert W. Baird raised argenex from a “neutral” rating to an “outperform” rating and set a $680.00 price target for the company in a research note on Tuesday, May 13th. Guggenheim boosted their price target on argenex from $1,060.00 to $1,070.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Wells Fargo & Company boosted 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. Deutsche Bank Aktiengesellschaft raised argenex from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley boosted their price target on argenex from $700.00 to $766.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, argenex presently has a consensus rating of “Buy” and an average target price of $763.47.

argenex Stock Performance

Shares of argenex stock opened at $707.96 on Monday. The firm has a 50-day moving average of $604.45 and a 200-day moving average of $598.90. The stock has a market cap of $43.33 billion, a PE ratio of 36.31, a PEG ratio of 0.81 and a beta of 0.39. argenex has a 52-week low of $510.05 and a 52-week high of $710.00.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.90. The business had revenue of $866.79 million during 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%. Equities research analysts predict that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rakuten Securities Inc. raised its stake in argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock worth $36,000 after acquiring an additional 22 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in argenex during the fourth quarter worth about $38,000. WPG Advisers LLC acquired a new position in shares of argenex in the first quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new position in shares of argenex in the first quarter valued at approximately $44,000. Finally, Brooklyn Investment Group increased its stake in shares of argenex by 102.7% in the first quarter. Brooklyn Investment Group now owns 75 shares of the company’s stock valued at $44,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Company Profile

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.