argenex (NASDAQ:ARGX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

argenex (NASDAQ:ARGX) had its price target upped by research analysts at Royal Bank Of Canada from $890.00 to $945.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 2.07% from the company’s current price.

Several other brokerages also recently commented on ARGX. Glj Research upgraded argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Morgan Stanley increased their price target on argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Bank of America raised their price target on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. HC Wainwright reaffirmed a “buy” rating and set a $940.00 price objective on shares of argenex in a research report on Thursday, June 25th. Finally, Guggenheim increased their price objective on shares of argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,037.61.

argenex Trading Up 1.0%

Shares of argenex stock traded up $9.01 on Tuesday, reaching $925.81. 169,979 shares of the company were exchanged, compared to its average volume of 359,067. The company has a market capitalization of $57.58 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 1.16 and a beta of 0.45. argenex has a one year low of $536.02 and a one year high of $953.58. The company has a 50-day moving average of $843.55 and a 200 day moving average of $811.35.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. The business had revenue of $1.31 billion during the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. Analysts predict that argenex will post 26.27 earnings per share for the current year.

Hedge Funds Weigh In On argenex

Several institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC raised its stake in argenex by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock worth $1,847,592,000 after purchasing an additional 83,568 shares in the last quarter. Capital World Investors grew its position in shares of argenex by 0.4% during the 3rd 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 in the last quarter. M&T Bank Corp grew its position 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 worth $654,772,000 after purchasing an additional 774,916 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of argenex by 80.1% during the third 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 during the period. Finally, Morgan Stanley increased its holdings in shares of argenex by 19.2% during the fourth quarter. Morgan Stanley now owns 518,852 shares of the company’s stock worth $436,331,000 after purchasing an additional 83,746 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenex Company Profile

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.