argenex (NASDAQ:ARGX) Price Target Raised to $1,100.00

argenex (NASDAQ:ARGX) had its target price lifted by JPMorgan Chase & Co. from $925.00 to $1,100.00 in a report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley increased their price target on shares of argenex from $1,070.00 to $1,110.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Royal Bank Of Canada upped their target price on argenex from $850.00 to $860.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Citigroup increased their target price on argenex from $1,041.00 to $1,124.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Wedbush lifted their price target on argenex from $880.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Finally, Wall Street Zen raised argenex from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $917.39.

argenex Stock Up 0.1%

Shares of argenex stock opened at $890.11 on Monday. The business has a 50 day moving average of $859.76 and a 200 day moving average of $713.03. argenex has a 52 week low of $510.05 and a 52 week high of $934.62. The company has a market cap of $54.80 billion, a PE ratio of 38.22, a P/E/G ratio of 0.89 and a beta of 0.37.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.03. argenex had a net margin of 41.58% and a return on equity of 29.78%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. On average, research analysts anticipate that argenex will post 3.13 earnings per share for the current year.

Hedge Funds Weigh In On argenex

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of argenex by 14.8% in the first quarter. Goldman Sachs Group Inc. now owns 168,765 shares of the company’s stock worth $99,886,000 after purchasing an additional 21,805 shares during the last quarter. Amundi boosted its position in argenex by 8.1% in the 1st quarter. Amundi now owns 6,351 shares of the company’s stock valued at $3,747,000 after buying an additional 478 shares during the period. Voya Investment Management LLC boosted its position in argenex by 5.2% in the 1st quarter. Voya Investment Management LLC now owns 14,905 shares of the company’s stock valued at $8,822,000 after buying an additional 735 shares during the period. Royal Bank of Canada grew its stake in argenex by 0.9% in the 1st quarter. Royal Bank of Canada now owns 38,306 shares of the company’s stock worth $22,673,000 after acquiring an additional 353 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of argenex by 40.5% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,611 shares of the company’s stock worth $2,542,000 after acquiring an additional 1,328 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

About argenex

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.