argenex SE (NASDAQ:ARGX) Receives $1,056.89 Consensus Target Price from Analysts

argenex SE (NASDAQ:ARGX) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $1,072.7222.

Several brokerages have issued reports on ARGX. HC Wainwright reiterated a “buy” rating and issued a $940.00 price target on shares of argenex in a research note on Thursday, June 25th. Robert W. Baird increased their price objective on shares of argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Bank of America raised their price objective on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Weiss Ratings downgraded argenex from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Finally, Guggenheim initiated coverage on argenex in a report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of argenex by 32.1% during the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock worth $297,000 after purchasing an additional 122 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of argenex by 5,962.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock valued at $862,000 after buying an additional 1,431 shares during the last quarter. Focus Partners Wealth grew its stake in shares of argenex by 22.3% in the first quarter. Focus Partners Wealth now owns 400 shares of the company’s stock valued at $237,000 after buying an additional 73 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of argenex by 550.0% in the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock valued at $69,000 after buying an additional 99 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in argenex by 60.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company’s stock worth $73,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Stock Up 16.0%

NASDAQ ARGX opened at $987.84 on Friday. argenex has a 12-month low of $650.01 and a 12-month high of $1,002.16. The company has a market capitalization of $61.80 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 1.05 and a beta of 0.46. The firm’s 50 day moving average is $883.84 and its 200-day moving average is $821.99.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. As a group, sell-side analysts expect that argenex will post 28.77 EPS for the current year.

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.