Wedbush Reiterates Outperform Rating for argenex (NASDAQ:ARGX)

argenex (NASDAQ:ARGX)‘s stock had its “outperform” rating reissued by Wedbush in a note issued to investors on Tuesday,Benzinga reports. They currently have a $715.00 price objective on the stock. Wedbush’s price target would indicate a potential upside of 30.07% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Baird R W raised shares of argenex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Citigroup reaffirmed a “buy” rating on shares of argenex in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised argenex from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Robert W. Baird raised argenex from a “neutral” rating to an “outperform” rating and set a $680.00 price objective for the company in a research report on Tuesday, May 13th. Finally, William Blair reiterated an “outperform” rating on shares of argenex in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $709.18.

argenex Trading Up 1.4%

ARGX stock opened at $549.72 on Tuesday. The stock has a market capitalization of $33.57 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 0.98 and a beta of 0.39. The firm’s 50-day moving average price is $584.31 and its two-hundred day moving average price is $608.37. argenex has a 12-month low of $428.76 and a 12-month high of $678.21.

argenex (NASDAQ:ARGX) last posted its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.26. argenex had a return on equity of 16.15% and a net margin of 40.20%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $748.34 million. Equities analysts predict that argenex will post 3.13 EPS for the current year.

Institutional Trading of argenex

A number of hedge funds have recently bought and sold shares of ARGX. GeoWealth Management LLC increased its position in shares of argenex by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after purchasing an additional 18 shares during the last quarter. Rakuten Securities Inc. increased its holdings in argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock valued at $36,000 after buying an additional 22 shares during the last quarter. Whipplewood Advisors LLC bought a new position in argenex in the fourth quarter worth approximately $37,000. WPG Advisers LLC purchased a new position in shares of argenex during the 1st quarter worth $37,000. Finally, Global Retirement Partners LLC grew its position in shares of argenex by 369.2% during the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock valued at $38,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

About argenex

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.