Morgan Stanley Issues Positive Forecast for argenex (NASDAQ:ARGX) Stock Price

argenex (NASDAQ:ARGX) had its price objective raised by Morgan Stanley from $766.00 to $1,040.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on ARGX. Bank of America raised their price objective on argenex from $880.00 to $887.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada assumed coverage on argenex in a research note on Monday, August 25th. They issued an “outperform” rating and a $850.00 price target on the stock. Jefferies Financial Group set a $818.00 price objective on argenex and gave the stock a “buy” rating in a report on Tuesday, August 26th. HC Wainwright raised their target price on shares of argenex from $720.00 to $774.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Piper Sandler boosted their price target on shares of argenex from $750.00 to $820.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, argenex presently has an average rating of “Buy” and an average price target of $802.90.

argenex Trading Up 4.0%

Shares of NASDAQ ARGX opened at $767.33 on Wednesday. argenex has a twelve month low of $510.05 and a twelve month high of $786.20. The firm has a 50-day moving average of $694.82 and a two-hundred day moving average of $618.55. The company has a market capitalization of $46.96 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 0.80 and a beta of 0.46.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Greenleaf Trust lifted its position in argenex by 3.5% in the 1st quarter. Greenleaf Trust now owns 624 shares of the company’s stock worth $369,000 after buying an additional 21 shares in the last quarter. Rakuten Securities Inc. grew its holdings in shares of argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock valued at $36,000 after acquiring an additional 22 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of argenex by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company’s stock worth $1,083,000 after acquiring an additional 24 shares during the last quarter. Main Management ETF Advisors LLC raised its holdings in shares of argenex by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 1,466 shares of the company’s stock worth $808,000 after acquiring an additional 24 shares in the last quarter. Finally, M&T Bank Corp boosted its position in argenex by 0.6% during the first quarter. M&T Bank Corp now owns 4,296 shares of the company’s stock valued at $2,542,000 after purchasing an additional 27 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

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.