Wells Fargo & Company Issues Positive Forecast for argenex (NASDAQ:ARGX) Stock Price

argenex (NASDAQ:ARGX) had its price target hoisted by analysts at Wells Fargo & Company from $1,260.00 to $1,291.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 55.89% from the stock’s current price.

Several other research firms have also weighed in on ARGX. HC Wainwright upped their price target on argenex from $915.00 to $940.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a research report on Monday, April 20th. Glj Research raised argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Wall Street Zen downgraded argenex from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Guggenheim increased their price target on shares of argenex from $1,120.00 to $1,135.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, argenex presently has a consensus rating of “Moderate Buy” and an average price target of $1,019.50.

argenex Price Performance

argenex stock traded down $7.85 during midday trading on Monday, reaching $828.14. The stock had a trading volume of 37,225 shares, compared to its average volume of 348,963. The firm’s fifty day simple moving average is $779.30 and its two-hundred day simple moving average is $814.88. argenex has a twelve month low of $510.05 and a twelve month high of $934.62. The firm has a market cap of $51.50 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 1.32 and a beta of 0.47.

argenex (NASDAQ:ARGX) last announced its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. The company had revenue of $1.31 billion for the quarter. argenex had a net margin of 31.31% and a return on equity of 33.28%. As a group, sell-side analysts predict that argenex will post 25.27 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of argenex by 32.1% during the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock valued at $297,000 after buying an additional 122 shares during the last quarter. NewEdge Advisors LLC raised its position in argenex by 5,962.5% during the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock valued at $862,000 after acquiring an additional 1,431 shares in the last quarter. Focus Partners Wealth raised its position in argenex by 22.3% during the first quarter. Focus Partners Wealth now owns 400 shares of the company’s stock valued at $237,000 after acquiring an additional 73 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in argenex by 550.0% in the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock valued at $69,000 after acquiring an additional 99 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in argenex by 60.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company’s stock valued at $73,000 after acquiring an additional 50 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Company Profile

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.