argenex (NASDAQ:ARGX) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of argenex (NASDAQ:ARGX) in a report released on Monday,RTT News reports. They currently have a $800.00 target price on the stock.

Several other brokerages have also recently issued reports on ARGX. Oppenheimer lifted their price objective on argenex from $704.00 to $708.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft raised argenex from a “hold” rating to a “buy” rating in a report on Tuesday, July 8th. Royal Bank Of Canada assumed coverage on argenex in a report on Monday. They issued an “outperform” rating and a $850.00 price target for the company. Citigroup reissued a “buy” rating on shares of argenex in a report on Wednesday, May 21st. Finally, JMP Securities set a $699.00 price target on argenex in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, argenex presently has a consensus rating of “Buy” and a consensus price target of $757.88.

argenex Stock Performance

Shares of ARGX stock opened at $677.32 on Monday. The stock has a fifty day moving average price of $597.70 and a 200 day moving average price of $597.38. The stock has a market cap of $41.45 billion, a PE ratio of 34.73, a P/E/G ratio of 0.76 and a beta of 0.39. argenex has a 1 year low of $510.05 and a 1 year high of $702.24.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Millennium Management LLC lifted its holdings in argenex by 316.9% during the 1st quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock worth $158,977,000 after buying an additional 204,180 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in argenex by 114.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after buying an additional 158,476 shares during the last quarter. Point72 Asset Management L.P. bought a new position in argenex during the 4th quarter worth approximately $91,013,000. Franklin Resources Inc. lifted its holdings in argenex by 103.9% during the 2nd quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock worth $154,233,000 after buying an additional 142,606 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in argenex by 53,684.9% during the 1st quarter. GAMMA Investing LLC now owns 135,538 shares of the company’s stock worth $802,200,000 after buying an additional 135,286 shares during 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.