argenex (NASDAQ:ARGX) Price Target Raised to $1,250.00

argenex (NASDAQ:ARGX) had its price objective upped by Morgan Stanley from $1,230.00 to $1,250.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. HC Wainwright increased their price target on shares of argenex from $940.00 to $1,202.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Wells Fargo & Company boosted their price objective on shares of argenex from $1,350.00 to $1,415.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Bank of America upped their price objective on shares of argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Oppenheimer increased their target price on shares of argenex from $1,014.00 to $1,037.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada lifted their target price on shares of argenex from $1,025.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,158.61.

argenex Stock Up 2.6%

Shares of ARGX stock opened at $1,055.37 on Monday. The business has a 50-day moving average price of $920.25 and a two-hundred day moving average price of $838.50. argenex has a 12-month low of $661.85 and a 12-month high of $1,072.75. The firm has a market cap of $66.02 billion, a P/E ratio of 40.53, a price-to-earnings-growth ratio of 1.07 and a beta of 0.47.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating the consensus estimate of $5.86 by $1.46. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. As a group, research analysts expect that argenex will post 29.04 EPS for the current fiscal year.

Institutional Trading of argenex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sands Capital Management LLC grew its holdings in shares of argenex by 2,046.6% in the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after purchasing an additional 340,245 shares during the last quarter. Invesco Ltd. raised its holdings in argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after buying an additional 331,489 shares during the last quarter. Wellington Management Group LLP raised its holdings in argenex by 80.1% during the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after buying an additional 324,653 shares during the last quarter. Two Sigma Investments LP boosted its position in argenex by 570.3% during the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after buying an additional 250,278 shares during the period. Finally, Corient Private Wealth LLC boosted its position in argenex by 12,441.8% during the 4th quarter. Corient Private Wealth LLC now owns 246,572 shares of the company’s stock valued at $207,355,000 after buying an additional 244,606 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.