Oppenheimer Has Lowered Expectations for argenex (NASDAQ:ARGX) Stock Price

argenex (NASDAQ:ARGX) had its price target reduced by stock analysts at Oppenheimer from $1,060.00 to $1,014.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 35.85% from the company’s current price.

A number of other brokerages have also recently issued reports on ARGX. Truist Financial raised their price objective on shares of argenex from $950.00 to $1,030.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. DZ Bank upgraded shares of argenex to a “strong-buy” rating in a research report on Friday, December 19th. Royal Bank Of Canada cut their price target on argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Wells Fargo & Company decreased their price objective on argenex from $1,317.00 to $1,247.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, Morgan Stanley upped their price objective on argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, argenex currently has an average rating of “Moderate Buy” and an average target price of $1,016.22.

argenex Stock Performance

Shares of NASDAQ:ARGX opened at $746.42 on Thursday. argenex has a 1-year low of $510.05 and a 1-year high of $934.62. The stock has a market capitalization of $46.19 billion, a P/E ratio of 38.24, a P/E/G ratio of 1.23 and a beta of 0.46. The business has a 50-day moving average price of $773.10 and a two-hundred day moving average price of $812.65.

argenex (NASDAQ:ARGX) last issued its earnings results on Saturday, February 14th. The company reported $8.02 earnings per share (EPS) for the quarter. argenex had a net margin of 30.42% and a return on equity of 38.51%. As a group, equities analysts predict that argenex will post 3.13 EPS for the current year.

Hedge Funds Weigh In On argenex

A number of hedge funds and other institutional investors have recently made changes to their positions in ARGX. M&T Bank Corp increased its position in shares of argenex by 20,977.7% in the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock valued at $654,772,000 after buying an additional 774,916 shares in the last quarter. Sands Capital Management LLC lifted its holdings in argenex by 2,046.6% during the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after acquiring an additional 340,245 shares in the last quarter. Invesco Ltd. grew its stake in argenex by 390.4% in the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after acquiring an additional 331,489 shares during the period. Wellington Management Group LLP grew its stake in argenex by 80.1% in the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after acquiring an additional 324,653 shares during the period. Finally, Two Sigma Investments LP increased its holdings in shares of argenex by 570.3% in the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock worth $216,961,000 after acquiring an additional 250,278 shares in 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.