argenex (NASDAQ:ARGX) Given “Outperform” Rating at Wedbush

argenex (NASDAQ:ARGX)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a note issued to investors on Monday,Benzinga reports. They presently have a $1,000.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 39.31% from the stock’s current price.

Several other equities analysts have also issued reports on the company. DZ Bank raised argenex to a “strong-buy” rating in a research note on Friday, December 19th. Robert W. Baird boosted their price objective on argenex from $858.00 to $867.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. Morgan Stanley upped their target price on shares of argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Stifel Nicolaus raised their target price on shares of argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, Zacks Research upgraded shares of argenex from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One investment 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 company. According to data from MarketBeat.com, argenex presently has a consensus rating of “Moderate Buy” and an average target price of $999.22.

argenex Trading Down 1.4%

Shares of NASDAQ ARGX opened at $717.80 on Monday. argenex has a 1-year low of $510.05 and a 1-year high of $934.62. The company has a 50-day moving average of $815.53 and a two-hundred day moving average of $816.06. The company has a market cap of $44.42 billion, a PE ratio of 36.77, a P/E/G ratio of 1.17 and a beta of 0.38.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.05 by $1.97. argenex had a net margin of 30.42% and a return on equity of 38.51%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. As a group, equities research analysts forecast that argenex will post 3.13 earnings per share for the current year.

Institutional Trading of argenex

A number of hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its position in argenex by 11.6% in the 3rd quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock valued at $169,474,000 after buying an additional 23,864 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of argenex by 91.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,828 shares of the company’s stock valued at $6,511,000 after purchasing an additional 4,217 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of argenex by 21.3% in the third quarter. Allianz Asset Management GmbH now owns 3,671 shares of the company’s stock worth $2,708,000 after purchasing an additional 645 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in argenex by 14.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock worth $162,160,000 after purchasing an additional 26,343 shares during the last quarter. Finally, US Bancorp DE grew its position in argenex by 37.2% in the third quarter. US Bancorp DE now owns 7,073 shares of the company’s stock valued at $5,217,000 after purchasing an additional 1,919 shares in 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.