argenex (NASDAQ:ARGX) Price Target Raised to $1,070.00

argenex (NASDAQ:ARGX) had its target price boosted by Guggenheim from $1,060.00 to $1,070.00 in a research note issued to investors on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Robert W. Baird upgraded argenex from a “neutral” rating to an “outperform” rating and set a $680.00 price objective for the company in a research report on Tuesday, May 13th. Wedbush restated an “outperform” rating and set a $715.00 price objective on shares of argenex in a research report on Monday, July 21st. HC Wainwright raised their price objective on argenex from $720.00 to $774.00 and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded argenex from a “hold” rating to a “buy” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price objective on argenex from $741.00 to $756.00 and gave the stock an “overweight” rating in a research report on Thursday. Nineteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $736.81.

argenex Trading Up 0.5%

argenex stock opened at $673.80 on Friday. The company has a market capitalization of $41.24 billion, a PE ratio of 34.55, a P/E/G ratio of 0.93 and a beta of 0.39. argenex has a 12 month low of $475.65 and a 12 month high of $689.13. The stock has a 50-day moving average price of $571.11 and a two-hundred day moving average price of $596.29.

argenex (NASDAQ:ARGX) last posted its earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, beating the consensus estimate of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%. The firm had revenue of $866.79 million during the quarter, compared to the consensus estimate of $776.82 million. As a group, analysts predict that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenex

A number of hedge funds have recently added to or reduced their stakes in ARGX. LPL Financial LLC grew its stake in argenex by 113.4% in the fourth quarter. LPL Financial LLC now owns 16,317 shares of the company’s stock valued at $10,035,000 after acquiring an additional 8,671 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of argenex by 44.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,138 shares of the company’s stock valued at $1,930,000 after purchasing an additional 969 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of argenex by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 134,591 shares of the company’s stock valued at $82,774,000 after purchasing an additional 573 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of argenex by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 27,207 shares of the company’s stock valued at $16,732,000 after purchasing an additional 458 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in shares of argenex by 1,133.3% in the fourth quarter. Huntington National Bank now owns 74 shares of the company’s stock valued at $46,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds 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.