argenex (NASDAQ:ARGX) Price Target Raised to $880.00 at Wedbush

argenex (NASDAQ:ARGX) had its price objective boosted by Wedbush from $800.00 to $880.00 in a research report report published on Monday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other brokerages have also commented on ARGX. Jefferies Financial Group set a $818.00 price target on argenex and gave the company a “buy” rating in a research note on Tuesday, August 26th. Wells Fargo & Company raised their price target on argenex from $741.00 to $756.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Guggenheim restated a “buy” rating and set a $1,070.00 price target on shares of argenex in a research note on Thursday, September 18th. Piper Sandler raised their price target on argenex from $750.00 to $820.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Finally, Morgan Stanley lifted their target price on argenex from $766.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $817.53.

argenex Trading Up 0.3%

Shares of argenex stock opened at $799.56 on Monday. The firm has a market cap of $48.93 billion, a P/E ratio of 41.00, a P/E/G ratio of 0.86 and a beta of 0.46. argenex has a 12 month low of $510.05 and a 12 month high of $810.16. The stock’s fifty day moving average price is $722.14 and its 200-day moving average price is $629.47.

argenex (NASDAQ:ARGX) last announced its quarterly 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. The firm had revenue of $866.79 million for the quarter, compared to analyst estimates of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. Analysts forecast that argenex will post 3.13 earnings per share for the current year.

Hedge Funds Weigh In On argenex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in shares of argenex by 316.9% during the first quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock worth $158,977,000 after acquiring an additional 204,180 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of argenex by 114.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after acquiring an additional 158,476 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock worth $154,233,000 after acquiring an additional 142,606 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of argenex by 1,203.4% during the first quarter. BNP Paribas Financial Markets now owns 133,359 shares of the company’s stock worth $78,931,000 after acquiring an additional 123,127 shares during the last quarter. Finally, Braidwell LP grew its stake in shares of argenex by 99.2% during the first quarter. Braidwell LP now owns 160,849 shares of the company’s stock worth $95,201,000 after acquiring an additional 80,083 shares during 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.