argenex (NASDAQ:ARGX) Given New $887.00 Price Target at Bank of America

argenex (NASDAQ:ARGX) had its price target upped by analysts at Bank of America from $880.00 to $887.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 26.27% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Morgan Stanley boosted their target price on argenex from $700.00 to $766.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Jefferies Financial Group set a $818.00 target price on argenex and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Wells Fargo & Company boosted their target price on argenex from $741.00 to $756.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. lifted their price target on argenex from $775.00 to $830.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Finally, Baird R W raised argenex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $772.84.

argenex Trading Down 1.4%

ARGX traded down $9.71 on Tuesday, hitting $702.49. 80,029 shares of the company were exchanged, compared to its average volume of 373,272. argenex has a twelve month low of $510.05 and a twelve month high of $716.62. The company has a market cap of $42.99 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 0.81 and a beta of 0.41. The firm has a 50-day moving average price of $614.60 and a two-hundred day moving average price of $599.63.

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

Institutional Trading of argenex

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Europe London LLP purchased a new stake in shares of argenex in the 4th quarter valued at about $5,839,000. Ameriprise Financial Inc. lifted its holdings in shares of argenex by 10.0% in the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company’s stock valued at $4,313,000 after purchasing an additional 639 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of argenex in the 1st quarter valued at about $332,000. Cetera Investment Advisers lifted its holdings in shares of argenex by 33.1% in the 1st quarter. Cetera Investment Advisers now owns 5,491 shares of the company’s stock valued at $3,250,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of argenex by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company’s stock valued at $15,332,000 after purchasing an additional 4,445 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

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.