argenex (NASDAQ:ARGX) Price Target Raised to $1,030.00 at Truist Financial

argenex (NASDAQ:ARGX) had its target price lifted by Truist Financial from $950.00 to $1,030.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Stifel Nicolaus raised their price target on argenex from $1,028.00 to $1,248.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Morgan Stanley increased their price objective on argenex from $1,070.00 to $1,110.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Baird R W cut shares of argenex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. Wolfe Research reissued a “peer perform” rating on shares of argenex in a research report on Monday, November 24th. Finally, Zacks Research downgraded shares of argenex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $986.72.

argenex Stock Down 3.3%

ARGX stock opened at $795.57 on Thursday. The company has a 50 day moving average of $871.23 and a two-hundred day moving average of $751.73. The company has a market cap of $48.98 billion, a price-to-earnings ratio of 34.16, a PEG ratio of 0.52 and a beta of 0.38. argenex has a 12-month low of $510.05 and a 12-month high of $934.62.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. On average, research analysts anticipate that argenex will post 3.13 EPS for the current year.

Institutional Trading of argenex

Large investors have recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in argenex in the 3rd quarter worth $32,000. Sunbelt Securities Inc. acquired a new stake in shares of argenex in the third quarter valued at about $36,000. Aventura Private Wealth LLC bought a new position in shares of argenex in the fourth quarter worth about $38,000. Bessemer Group Inc. increased its stake in shares of argenex by 276.5% in the third quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after purchasing an additional 47 shares during the period. Finally, MAI Capital Management lifted its position in shares of argenex by 866.7% during the 2nd quarter. MAI Capital Management now owns 87 shares of the company’s stock worth $48,000 after purchasing an additional 78 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

argenex Company Profile

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.