argenex (NASDAQ:ARGX) Price Target Raised to $1,146.00

argenex (NASDAQ:ARGX) had its price objective increased by TD Cowen from $800.00 to $1,146.00 in a research report sent to investors on Friday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler increased their target price on argenex from $750.00 to $820.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Jefferies Financial Group set a $818.00 target price on argenex and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft cut shares of argenex from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Wells Fargo & Company increased their price target on shares of argenex from $741.00 to $756.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, Evercore ISI increased their price target on shares of argenex from $775.00 to $910.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $851.70.

argenex Stock Performance

Shares of NASDAQ ARGX opened at $818.50 on Friday. argenex has a fifty-two week low of $510.05 and a fifty-two week high of $855.46. The company has a 50 day simple moving average of $769.14 and a two-hundred day simple moving average of $654.84. The company has a market capitalization of $50.40 billion, a price-to-earnings ratio of 35.14, a P/E/G ratio of 0.94 and a beta of 0.45.

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. argenex had a return on equity of 29.78% and a net margin of 41.58%.The firm had revenue of $866.79 million for the quarter, compared to analysts’ expectations of $776.82 million. On average, analysts forecast that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARGX. Millennium Management LLC lifted its holdings in argenex by 316.9% in the first quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock valued at $158,977,000 after acquiring an additional 204,180 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in argenex by 114.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after acquiring an additional 158,476 shares during the period. Franklin Resources Inc. lifted its holdings in argenex by 103.9% in the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after acquiring an additional 142,606 shares during the period. BNP Paribas Financial Markets lifted its holdings in argenex by 1,203.4% in the first quarter. BNP Paribas Financial Markets now owns 133,359 shares of the company’s stock valued at $78,931,000 after acquiring an additional 123,127 shares during the period. Finally, Braidwell LP boosted its stake in shares of argenex by 99.2% during the 1st 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. Institutional investors own 60.32% of the company’s stock.

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.