Oppenheimer Cuts argenex (NASDAQ:ARGX) Price Target to $1,014.00

argenex (NASDAQ:ARGX) had its price objective decreased by Oppenheimer from $1,060.00 to $1,014.00 in a research report report published on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of argenex from $925.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Royal Bank Of Canada cut their price objective on shares of argenex from $925.00 to $890.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. HC Wainwright lifted their target price on shares of argenex from $915.00 to $940.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Wells Fargo & Company decreased their target price on shares of argenex from $1,317.00 to $1,247.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Finally, Citigroup dropped their price target on shares of argenex from $1,124.00 to $1,091.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,016.22.

argenex Price Performance

ARGX stock opened at $746.42 on Thursday. argenex has a 1 year low of $510.05 and a 1 year high of $934.62. The firm has a market capitalization of $46.19 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 1.23 and a beta of 0.46. The business has a 50 day simple moving average of $773.10 and a 200-day simple moving average of $813.07.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Saturday, February 14th. The company reported $8.02 earnings per share for the quarter. argenex had a return on equity of 38.51% and a net margin of 30.42%. On average, equities research analysts expect that argenex will post 3.13 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Abound Wealth Management increased its position in shares of argenex by 3,200.0% during the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after acquiring an additional 32 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of argenex in the 4th quarter worth approximately $28,000. Ameriflex Group Inc. acquired a new position in shares of argenex in the 3rd quarter worth approximately $32,000. Sunbelt Securities Inc. purchased a new position in shares of argenex during the 3rd quarter worth approximately $36,000. Finally, Aventura Private Wealth LLC purchased a new position in shares of argenex during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.