argenex (NASDAQ:ARGX) Now Covered by Analysts at Royal Bank Of Canada

Research analysts at Royal Bank Of Canada started coverage on shares of argenex (NASDAQ:ARGX) in a research report issued on Monday. The brokerage set an “outperform” rating and a $850.00 price target on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 28.79% from the company’s previous close.

ARGX has been the subject of several other reports. JMP Securities set a $699.00 price objective on shares of argenex in a research note on Wednesday, May 14th. Guggenheim lifted their price objective on shares of argenex from $1,060.00 to $1,070.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Robert W. Baird raised shares of argenex from a “neutral” rating to an “outperform” rating and set a $680.00 price objective for the company in a research note on Tuesday, May 13th. Oppenheimer lifted their price objective on shares of argenex from $704.00 to $708.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Finally, Morgan Stanley lifted their price objective on shares of argenex from $700.00 to $766.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating and nineteen have given a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $752.88.

argenex Stock Down 0.6%

NASDAQ ARGX opened at $660.00 on Monday. The company has a fifty day moving average of $595.18 and a two-hundred day moving average of $597.16. The firm has a market capitalization of $40.39 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 0.76 and a beta of 0.39. argenex has a 52 week low of $510.05 and a 52 week high of $696.21.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, July 31st. The company reported $3.74 EPS for the quarter, topping the consensus estimate of $2.84 by $0.90. The company had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. Equities research analysts anticipate that argenex will post 3.13 EPS for the current year.

Institutional Trading of argenex

A number of large investors have recently made changes to their positions in ARGX. Rakuten Securities Inc. boosted its stake in shares of 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 purchasing an additional 22 shares during the period. WPG Advisers LLC bought a new stake in shares of argenex in the first quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of argenex in the fourth quarter valued at about $38,000. Golden State Wealth Management LLC bought a new stake in shares of argenex in the first quarter valued at about $44,000. Finally, Brooklyn Investment Group raised its holdings in shares of argenex by 102.7% in the first quarter. Brooklyn Investment Group now owns 75 shares of the company’s stock valued at $44,000 after acquiring an additional 38 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Company Profile

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.