argenex (NASDAQ:ARGX) Price Target Raised to $1,182.00

argenex (NASDAQ:ARGX) had its price target lifted by Citigroup from $1,152.00 to $1,182.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 35.68% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company upped their price target on argenex from $1,260.00 to $1,291.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Guggenheim lifted their price objective on shares of argenex from $1,120.00 to $1,135.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Morgan Stanley upped their target price on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Oppenheimer dropped their price target on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research report on Thursday, April 2nd. Finally, Wedbush restated an “outperform” rating and set a $1,000.00 price target on shares of argenex in a report on Thursday, June 11th. Two equities 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,042.67.

argenex Stock Performance

Shares of argenex stock traded up $24.95 during trading hours on Tuesday, reaching $871.14. The company’s stock had a trading volume of 201,533 shares, compared to its average volume of 353,565. argenex has a one year low of $563.08 and a one year high of $953.58. The company has a market capitalization of $54.50 billion, a P/E ratio of 38.78, a P/E/G ratio of 1.06 and a beta of 0.45. The stock’s fifty day simple moving average is $861.63 and its two-hundred day simple moving average is $813.48.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%.The firm had revenue of $1.31 billion during the quarter. As a group, research analysts forecast that argenex will post 26.27 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Hedge funds have recently modified their holdings of the stock. Abound Wealth Management raised its stake in shares of argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after buying an additional 32 shares during the period. Eastern Bank bought a new position in shares of argenex during the 2nd quarter worth $32,000. Sound Income Strategies LLC bought a new position in shares of argenex during the 4th quarter worth $28,000. Whipplewood Advisors LLC purchased a new stake in argenex in the 1st quarter worth about $28,000. Finally, Aventura Private Wealth LLC bought a new stake in argenex in the 4th quarter valued at about $38,000. 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.