argenex (NASDAQ:ARGX) Stock Jumps 3.8% Following Analyst Upgrade

Shares of argenex SE (NASDAQ:ARGX) traded up 3.8% on Wednesday after Wells Fargo & Company raised their price target on the stock from $1,355.00 to $1,356.00. Wells Fargo & Company currently has an overweight rating on the stock. argenex traded as high as $830.45 and last traded at $832.8760. 39,500 shares traded hands during trading, a decline of 89% from the average daily volume of 343,840 shares. The stock had previously closed at $802.64.

A number of other equities research analysts have also commented on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of argenex in a report on Wednesday, August 5th. Citizens Jmp upped their price target on shares of argenex from $932.00 to $1,200.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 18th. Citigroup upped their price target on argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. UBS Group upgraded shares of argenex from a “neutral” rating to a “buy” rating and upped their target price for the company from $960.00 to $1,400.00 in a research report on Wednesday, August 26th. Finally, Truist Financial upped their target price on argenex from $1,030.00 to $1,095.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, argenex currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,151.95.

Institutional Trading of argenex

A number of institutional investors and hedge funds have recently modified their holdings of ARGX. Tidal Investments LLC lifted its stake in argenex by 97.8% in the 2nd quarter. Tidal Investments LLC now owns 2,362 shares of the company’s stock worth $2,191,000 after purchasing an additional 1,168 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of argenex by 314.8% during the second quarter. Squarepoint Ops LLC now owns 58,400 shares of the company’s stock valued at $54,182,000 after acquiring an additional 44,321 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in argenex during the second quarter worth $27,584,000. Optiver Holding B.V. lifted its position in shares of argenex by 907.0% during the first quarter. Optiver Holding B.V. now owns 10,110 shares of the company’s stock worth $7,383,000 after purchasing an additional 9,106 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in argenex by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock valued at $1,847,592,000 after buying an additional 83,568 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Stock Performance

The business has a 50-day simple moving average of $958.72 and a 200-day simple moving average of $879.19. The company has a market cap of $51.61 billion, a price-to-earnings ratio of 31.66, a price-to-earnings-growth ratio of 0.85 and a beta of 0.44.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. Research analysts anticipate that argenex SE will post 28.71 EPS for the current year.

About argenex

argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx’s leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).