argenex (NASDAQ:ARGX) Stock Price Expected to Rise, Wedbush Analyst Says

argenex (NASDAQ:ARGX) had its price target increased by equities research analysts at Wedbush from $880.00 to $1,000.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 10.84% from the company’s current price.

ARGX has been the subject of a number of other reports. Stifel Nicolaus set a $882.00 price objective on argenex in a research report on Thursday, September 18th. Zacks Research lowered shares of argenex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Royal Bank Of Canada upped their price objective on shares of argenex from $850.00 to $860.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Guggenheim reissued a “buy” rating and issued a $1,070.00 price objective on shares of argenex in a research report on Thursday, September 18th. Finally, Morgan Stanley boosted their price objective on argenex from $766.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $885.94.

argenex Stock Up 1.2%

Shares of ARGX stock traded up $10.50 on Friday, reaching $902.23. The company had a trading volume of 327,711 shares, compared to its average volume of 372,393. The business’s 50-day moving average is $796.20 and its 200 day moving average is $670.33. argenex has a one year low of $510.05 and a one year high of $914.87. The stock has a market capitalization of $55.55 billion, a PE ratio of 38.81, a price-to-earnings-growth ratio of 0.91 and a beta of 0.45.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. On average, sell-side analysts forecast that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenex

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in argenex by 124.5% during the first quarter. Bank of New York Mellon Corp now owns 14,283 shares of the company’s stock worth $8,454,000 after acquiring an additional 7,921 shares during the period. Cerity Partners LLC raised its position in argenex by 45.3% in the first quarter. Cerity Partners LLC now owns 4,654 shares of the company’s stock worth $2,755,000 after acquiring an additional 1,452 shares during the period. Cullen Frost Bankers Inc. boosted its stake in argenex by 95.6% in the first quarter. Cullen Frost Bankers Inc. now owns 133 shares of the company’s stock valued at $79,000 after acquiring an additional 65 shares during the last quarter. Morse Asset Management Inc boosted its position in argenex by 98.0% during the first quarter. Morse Asset Management Inc now owns 495 shares of the company’s stock worth $293,000 after purchasing an additional 245 shares during the period. Finally, Wealth Alliance LLC increased its stake in shares of argenex by 14.9% in the first quarter. Wealth Alliance LLC now owns 757 shares of the company’s stock worth $448,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors 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.