Citigroup Cuts argenex (NASDAQ:ARGX) Price Target to $1,091.00

argenex (NASDAQ:ARGX) had its price objective reduced by Citigroup from $1,124.00 to $1,091.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

ARGX has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a research note on Wednesday, October 8th. Piper Sandler upped their price objective on shares of argenex from $820.00 to $930.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. DZ Bank upgraded shares of argenex to a “strong-buy” rating in a research note on Friday, December 19th. TD Cowen upped their price target on shares of argenex from $800.00 to $1,146.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Evercore ISI lifted their price objective on shares of argenex from $775.00 to $910.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, argenex currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.72.

argenex Stock Down 0.9%

Shares of ARGX stock opened at $788.49 on Thursday. The firm has a market cap of $48.55 billion, a P/E ratio of 33.86, a PEG ratio of 0.50 and a beta of 0.38. The company has a 50 day moving average of $870.63 and a 200-day moving average of $754.75. argenex has a 12-month low of $510.05 and a 12-month high of $934.62.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $4.40 EPS for the quarter, beating the consensus estimate of $4.37 by $0.03. argenex had a return on equity of 29.78% and a net margin of 41.58%.The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. As a group, equities analysts expect that argenex will post 3.13 EPS for the current year.

Institutional Trading of argenex

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sound View Wealth Advisors Group LLC lifted its stake in argenex by 3.4% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 396 shares of the company’s stock worth $292,000 after purchasing an additional 13 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of argenex by 6.8% in the third quarter. GAMMA Investing LLC now owns 251 shares of the company’s stock worth $185,000 after purchasing an additional 16 shares during the period. Portside Wealth Group LLC increased its holdings in shares of argenex by 2.8% in the third quarter. Portside Wealth Group LLC now owns 583 shares of the company’s stock worth $430,000 after purchasing an additional 16 shares during the period. Harbor Investment Advisory LLC raised its position in shares of argenex by 13.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 131 shares of the company’s stock worth $110,000 after buying an additional 16 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its stake in argenex by 10.0% during the third quarter. Cromwell Holdings LLC now owns 187 shares of the company’s stock valued at $138,000 after buying an additional 17 shares during the period. Institutional investors own 60.32% of the company’s stock.

About argenex

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.