argenex’s (ARGX) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of argenex (NASDAQ:ARGX) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $1,150.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on ARGX. Wall Street Zen raised shares of argenex from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Oppenheimer raised their price target on shares of argenex from $1,014.00 to $1,037.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Truist Financial boosted their price objective on shares of argenex from $1,030.00 to $1,095.00 and gave the company a “buy” rating in a report on Tuesday, August 18th. Morgan Stanley increased their target price on shares of argenex from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Monday, August 31st. Finally, Piper Sandler raised their target price on shares of argenex from $1,075.00 to $1,215.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,158.61.

argenex Stock Performance

Shares of ARGX opened at $1,033.15 on Thursday. argenex has a 52 week low of $661.85 and a 52 week high of $1,072.75. The firm has a market cap of $64.63 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 1.07 and a beta of 0.47. The firm’s 50-day simple moving average is $926.47 and its 200 day simple moving average is $841.48.

argenex (NASDAQ:ARGX) last posted its earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.45 billion. As a group, equities analysts forecast that argenex will post 29.13 earnings per share for the current year.

Institutional Investors Weigh In On argenex

A number of large investors have recently bought and sold shares of ARGX. Whipplewood Advisors LLC bought a new stake in shares of argenex during the 1st quarter worth approximately $28,000. Eastern Bank bought a new stake in argenex during the second quarter worth $32,000. Sunbelt Securities Inc. bought a new stake in argenex during the third quarter worth $36,000. Axiom Investment Management LLC acquired a new stake in shares of argenex in the 1st quarter valued at $50,000. Finally, WPG Advisers LLC increased its stake 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 purchasing an additional 13 shares during the last quarter. 60.32% of the stock is currently 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.