Brokerages Set argenex SE (NASDAQ:ARGX) PT at $999.22

Shares of argenex SE (NASDAQ:ARGX) have earned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $999.2222.

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Citizens Jmp upped their target price on shares of argenex from $925.00 to $944.00 and gave the stock a “market outperform” rating in a research note on Friday, February 27th. Wedbush reiterated an “outperform” rating and set a $1,000.00 target price on shares of argenex in a report on Monday, March 9th. Guggenheim dropped their price target on shares of argenex from $1,160.00 to $1,120.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Royal Bank Of Canada cut their price objective on argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th.

argenex Stock Performance

Shares of ARGX stock opened at $663.93 on Wednesday. The firm has a market cap of $41.08 billion, a P/E ratio of 34.01, a P/E/G ratio of 1.13 and a beta of 0.38. The firm’s 50 day moving average price is $792.62 and its 200-day moving average price is $815.26. argenex has a one year low of $510.05 and a one year high of $934.62.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.05 by $1.97. argenex had a return on equity of 38.51% and a net margin of 30.42%.The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. As a group, research analysts predict that argenex will post 3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On argenex

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. lifted its stake in argenex by 2.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock worth $372,000 after acquiring an additional 12 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in argenex by 0.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company’s stock valued at $1,153,000 after buying an additional 12 shares during the last quarter. CI Investments Inc. increased its holdings in argenex by 2.6% in the fourth quarter. CI Investments Inc. now owns 469 shares of the company’s stock valued at $394,000 after buying an additional 12 shares during the last quarter. Sound View Wealth Advisors Group LLC raised its stake in argenex by 3.4% in the third quarter. Sound View Wealth Advisors Group LLC now owns 396 shares of the company’s stock valued at $292,000 after buying an additional 13 shares in the last quarter. Finally, Allworth Financial LP raised its stake in argenex by 12.7% in the fourth quarter. Allworth Financial LP now owns 115 shares of the company’s stock valued at $97,000 after buying an additional 13 shares in the last quarter. Hedge funds and other 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.