argenex’s (ARGX) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of argenex (NASDAQ:ARGX) in a research note issued to investors on Monday,Benzinga reports. They currently have a $1,000.00 price target on the stock.

ARGX has been the topic of a number of other reports. Royal Bank Of Canada cut their price target on shares of argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. 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. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on shares of argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of argenex in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, argenex currently has a consensus rating of “Moderate Buy” and a consensus target price of $999.22.

argenex Stock Up 3.1%

ARGX opened at $740.40 on Monday. argenex has a 52 week low of $510.05 and a 52 week high of $934.62. The business has a fifty day simple moving average of $813.59 and a 200-day simple moving average of $816.60. The firm has a market cap of $45.82 billion, a P/E ratio of 37.93, a P/E/G ratio of 1.17 and a beta of 0.38.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, February 26th. The company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.05 by $1.97. argenex had a return on equity of 38.51% and a net margin of 30.42%.The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Sell-side analysts expect that argenex will post 3.13 earnings per share for the current year.

Institutional Trading of argenex

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in argenex by 32.1% during the first quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock worth $297,000 after buying an additional 122 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of argenex by 5,962.5% in the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock valued at $862,000 after acquiring an additional 1,431 shares during the period. Focus Partners Wealth grew its position in shares of argenex by 22.3% during the first quarter. Focus Partners Wealth now owns 400 shares of the company’s stock worth $237,000 after acquiring an additional 73 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of argenex by 550.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock valued at $69,000 after acquiring an additional 99 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of argenex by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 9,433 shares of the company’s stock valued at $5,200,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

About argenex

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.