argenex (NASDAQ:ARGX) Price Target Raised to $1,317.00

argenex (NASDAQ:ARGX) had its target price increased by equities researchers at Wells Fargo & Company from $1,264.00 to $1,317.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 64.02% from the company’s current price.

Several other research firms also recently weighed in on ARGX. Morgan Stanley upped their price target on argenex from $1,070.00 to $1,110.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a report on Wednesday, October 8th. Wolfe Research reiterated a “peer perform” rating on shares of argenex in a report on Monday, November 24th. Wall Street Zen downgraded argenex from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, argenex currently has an average rating of “Moderate Buy” and a consensus target price of $986.78.

argenex Stock Performance

Shares of ARGX traded up $2.94 on Tuesday, reaching $802.95. The stock had a trading volume of 156,009 shares, compared to its average volume of 422,322. The firm has a market capitalization of $49.69 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 0.51 and a beta of 0.38. The company has a 50-day simple moving average of $865.70 and a 200-day simple moving average of $766.80. argenex has a 12-month low of $510.05 and a 12-month high of $934.62.

argenex (NASDAQ:ARGX) last announced its earnings results on Thursday, October 30th. The company reported $4.40 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.03. argenex had a net margin of 41.58% and a return on equity of 29.78%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.07 billion. On average, analysts expect that argenex will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

Large investors have recently made changes to their positions in the stock. Abound Wealth Management raised its holdings in shares of argenex by 3,200.0% during the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after purchasing an additional 32 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of argenex in the 3rd quarter valued at $32,000. Sunbelt Securities Inc. purchased a new stake in argenex during the third quarter worth $36,000. Aventura Private Wealth LLC acquired a new stake in argenex during the fourth quarter valued at $38,000. Finally, Bessemer Group Inc. raised its position in shares of argenex by 276.5% in the third quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after acquiring an additional 47 shares during the period. 60.32% of the stock is 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.