Brokerages Set argenex SE (NASDAQ:ARGX) Price Target at $1,158.61

argenex SE (NASDAQ:ARGX) has been assigned an average rating of “Moderate Buy” from the twenty-four ratings firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $1,158.6111.

A number of brokerages have issued reports on ARGX. UBS Group raised shares of argenex from a “neutral” rating to a “buy” rating and raised their target price for the stock from $960.00 to $1,400.00 in a report on Wednesday, August 26th. Bank of America upped their target price on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Wall Street Zen raised argenex from a “hold” rating to a “buy” rating in a research note on Sunday, September 6th. Weiss Ratings lowered argenex from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Finally, Robert W. Baird upped their price objective on shares of argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a report on Monday, July 27th.

argenex Price Performance

Shares of NASDAQ:ARGX opened at $984.39 on Wednesday. argenex has a 1-year low of $661.85 and a 1-year high of $1,072.75. The firm has a fifty day moving average price of $934.10 and a 200 day moving average price of $847.13. The stock has a market cap of $61.58 billion, a P/E ratio of 37.80, a P/E/G ratio of 1.02 and a beta of 0.47.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating the consensus estimate 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%. Sell-side analysts expect that argenex will post 29.13 EPS for the current fiscal year.

Hedge Funds Weigh In On argenex

Several hedge funds have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC bought a new stake in shares of argenex in the first quarter worth about $28,000. Eastern Bank bought a new position in argenex in the second quarter valued at approximately $32,000. Sunbelt Securities Inc. acquired a new position in argenex during the third quarter worth $36,000. Axiom Investment Management LLC acquired a new stake in argenex in the first quarter valued at $50,000. Finally, WPG Advisers LLC lifted its stake in argenex by 17.8% in the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Company Profile

argenx SE is a global biopharmaceutical company focused on developing and commercializing antibody-based medicines for patients with severe autoimmune diseases. The company’s research is centered on its antibody engineering technologies, including the SIMPLE Antibody platform and NHance technology, which are designed to identify and enhance therapeutic antibodies.

argenx’s leading product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce disease-causing immunoglobulin G antibodies.