argenex (NASDAQ:ARGX) Given New $1,182.00 Price Target at Citigroup

argenex (NASDAQ:ARGX) had its price target increased by Citigroup from $1,152.00 to $1,182.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also issued reports on ARGX. HC Wainwright reiterated a “buy” rating and set a $940.00 price objective on shares of argenex in a research note on Thursday, June 25th. Glj Research upgraded shares of argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Wedbush reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of argenex in a report on Thursday, June 11th. Royal Bank Of Canada lifted their price target on shares of argenex from $890.00 to $945.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, Bank of America boosted their price objective on shares of argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, argenex has an average rating of “Moderate Buy” and an average target price of $1,042.67.

argenex Stock Performance

ARGX stock opened at $874.74 on Tuesday. The firm has a market cap of $54.72 billion, a P/E ratio of 38.95, a price-to-earnings-growth ratio of 1.05 and a beta of 0.45. argenex has a 1 year low of $563.08 and a 1 year high of $953.58. The stock has a 50-day simple moving average of $862.87 and a 200-day simple moving average of $813.72.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. The firm had revenue of $1.31 billion for the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%. On average, equities research analysts predict that argenex will post 26.27 EPS for the current year.

Hedge Funds Weigh In On argenex

Institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. increased its holdings in shares of argenex by 2.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock valued at $372,000 after acquiring an additional 12 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in argenex by 0.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company’s stock worth $1,153,000 after purchasing an additional 12 shares during the period. CI Investments Inc. increased its stake in argenex by 2.6% during the fourth quarter. CI Investments Inc. now owns 469 shares of the company’s stock valued at $394,000 after purchasing an additional 12 shares during the last quarter. Allworth Financial LP raised its holdings in shares of argenex by 12.7% during the fourth quarter. Allworth Financial LP now owns 115 shares of the company’s stock worth $97,000 after purchasing an additional 13 shares during the period. Finally, WPG Advisers LLC lifted its position in shares of argenex by 17.8% in the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after buying an additional 13 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other 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.