Wells Fargo & Company Issues Positive Forecast for argenex (NASDAQ:ARGX) Stock Price

argenex (NASDAQ:ARGX) had its target price lifted by Wells Fargo & Company from $1,264.00 to $1,317.00 in a research note published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

ARGX has been the topic of a number of other reports. Citigroup cut their price objective on argenex from $1,124.00 to $1,091.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. TD Cowen increased their price target on shares of argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wedbush restated an “outperform” rating and set a $1,000.00 price objective on shares of argenex in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of argenex from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Morgan Stanley raised their target price on shares of argenex from $1,070.00 to $1,110.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $986.78.

argenex Trading Up 1.2%

Shares of argenex stock opened at $809.64 on Tuesday. The firm’s 50 day simple moving average is $864.10 and its two-hundred day simple moving average is $768.67. The firm has a market capitalization of $50.10 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 0.51 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 data on Thursday, October 30th. The company reported $4.40 EPS for the quarter, topping the consensus estimate of $4.37 by $0.03. argenex had a net margin of 41.58% and a return on equity of 29.78%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. On average, sell-side analysts predict that argenex will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

Institutional investors have recently modified their holdings of the business. Capital World Investors increased its stake in argenex by 0.4% during the 3rd quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock worth $1,445,113,000 after buying an additional 8,422 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of argenex by 80.1% in the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after acquiring an additional 324,653 shares during the last quarter. Bank of America Corp DE increased its position in shares of argenex by 1.9% during the third quarter. Bank of America Corp DE now owns 342,379 shares of the company’s stock worth $252,525,000 after purchasing an additional 6,259 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in argenex by 114.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after purchasing an additional 158,476 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in argenex by 570.3% in the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after purchasing an additional 250,278 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.