argenex (NASDAQ:ARGX) Price Target Raised to $1,088.00 at Bank of America

argenex (NASDAQ:ARGX) had its target price lifted by equities research analysts at Bank of America from $1,016.00 to $1,088.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 14.21% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $940.00 target price on shares of argenex in a research report on Thursday, June 25th. Glj Research upgraded argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Guggenheim lifted their price objective on argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a report on Friday, May 8th. Morgan Stanley upped their price objective on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of argenex from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, argenex currently has a consensus rating of “Moderate Buy” and an average price target of $1,034.56.

argenex Stock Performance

argenex stock traded up $43.16 during trading hours on Thursday, hitting $952.66. The company had a trading volume of 79,436 shares, compared to its average volume of 358,891. The firm has a market cap of $59.24 billion, a P/E ratio of 42.27, a P/E/G ratio of 1.42 and a beta of 0.45. argenex has a 1 year low of $536.02 and a 1 year high of $948.26. The company has a 50-day moving average price of $835.36 and a two-hundred day moving average price of $809.82.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. The business had revenue of $1.31 billion for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. As a group, equities research analysts anticipate that argenex will post 26.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Eastern Bank acquired a new stake in argenex during the second quarter worth about $32,000. Empowered Funds LLC purchased a new stake in argenex in the 1st quarter worth approximately $215,000. Parallel Advisors LLC grew its stake in shares of argenex by 4.3% during the 1st quarter. Parallel Advisors LLC now owns 553 shares of the company’s stock worth $404,000 after purchasing an additional 23 shares during the period. NewEdge Advisors LLC increased its holdings in shares of argenex by 2.8% during the 1st quarter. NewEdge Advisors LLC now owns 523 shares of the company’s stock valued at $382,000 after purchasing an additional 14 shares in the last quarter. Finally, Optiver Holding B.V. lifted its stake in shares of argenex by 907.0% in the 1st quarter. Optiver Holding B.V. now owns 10,110 shares of the company’s stock valued at $7,383,000 after purchasing an additional 9,106 shares during the period. 60.32% of the stock is currently 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.