argenex (NASDAQ:ARGX) Given New $1,014.00 Price Target at Oppenheimer

argenex (NASDAQ:ARGX) had its price target cut by stock analysts at Oppenheimer from $1,060.00 to $1,014.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 35.91% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Truist Financial boosted their price objective on shares of argenex from $950.00 to $1,030.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Wells Fargo & Company lowered their target price on shares of argenex from $1,317.00 to $1,247.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. HC Wainwright boosted their price target on argenex from $915.00 to $940.00 and gave the company a “buy” rating in a report on Friday, February 27th. JPMorgan Chase & Co. increased their price target on argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Finally, Wedbush restated an “outperform” rating and set a $1,000.00 price objective on shares of argenex in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,016.22.

argenex Stock Performance

argenex stock traded up $2.95 during midday trading on Thursday, reaching $746.07. 224,251 shares of the company were exchanged, compared to its average volume of 378,271. The firm’s 50-day simple moving average is $776.08 and its 200-day simple moving average is $813.18. argenex has a 1 year low of $510.05 and a 1 year high of $934.62. The company has a market capitalization of $46.17 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 1.20 and a beta of 0.46.

argenex (NASDAQ:ARGX) last released its earnings results on Saturday, February 14th. The company reported $8.02 earnings per share (EPS) for the quarter. argenex had a net margin of 30.42% and a return on equity of 38.51%. On average, analysts forecast that argenex will post 3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On argenex

Several institutional investors and hedge funds have recently bought and sold shares of ARGX. Capital World Investors raised its stake 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 purchasing an additional 8,422 shares during the period. M&T Bank Corp grew its stake in shares of argenex by 20,977.7% during the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock valued at $654,772,000 after buying an additional 774,916 shares during the period. Wellington Management Group LLP increased 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 buying an additional 324,653 shares during the last quarter. Morgan Stanley raised its position in shares of argenex by 19.2% in the 4th quarter. Morgan Stanley now owns 518,852 shares of the company’s stock worth $436,331,000 after buying an additional 83,746 shares during the period. Finally, Invesco Ltd. boosted its holdings in argenex by 390.4% in the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after acquiring an additional 331,489 shares during the last quarter. Institutional investors and hedge funds 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.