argenex (NASDAQ:ARGX) Price Target Raised to $1,000.00 at Wedbush

argenex (NASDAQ:ARGX) had its target price boosted by research analysts at Wedbush from $880.00 to $1,000.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 10.84% from the company’s previous close.

Several other research firms also recently commented on ARGX. Wells Fargo & Company increased their price objective on argenex from $741.00 to $756.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft cut shares of argenex from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. HC Wainwright boosted their price objective on shares of argenex from $774.00 to $915.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Jefferies Financial Group set a $818.00 target price on shares of argenex and gave the company a “buy” rating in a research note on Tuesday, August 26th. Finally, Evercore ISI boosted their price target on argenex from $775.00 to $910.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $885.94.

argenex Price Performance

NASDAQ:ARGX traded up $10.50 during trading hours on Friday, reaching $902.23. 327,711 shares of the stock were exchanged, compared to its average volume of 372,393. The stock has a market cap of $55.55 billion, a PE ratio of 38.81, a PEG ratio of 0.91 and a beta of 0.45. argenex has a twelve month low of $510.05 and a twelve month high of $914.87. The firm has a 50 day moving average of $796.20 and a 200 day moving average of $670.33.

argenex (NASDAQ:ARGX) last announced its earnings results on Thursday, October 30th. The company reported $4.40 EPS for the quarter, topping the consensus estimate of $4.37 by $0.03. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. Equities research analysts anticipate that argenex will post 3.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors grew its position in argenex by 0.4% during the third quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock worth $1,445,113,000 after buying an additional 8,422 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of argenex by 80.1% during the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after purchasing an additional 324,653 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of argenex by 114.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after purchasing an additional 158,476 shares during the period. Two Sigma Investments LP lifted its position in argenex by 570.3% during the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock worth $216,961,000 after purchasing an additional 250,278 shares during the period. Finally, Franklin Resources Inc. grew its stake in argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock worth $154,233,000 after buying an additional 142,606 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.