argenex (NASDAQ:ARGX) Given “Outperform” Rating at Wedbush

argenex (NASDAQ:ARGX)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a note issued to investors on Thursday, Benzinga reports. They presently have a $1,150.00 price objective on the stock. Wedbush’s price target would indicate a potential upside of 8.97% from the company’s current price.

Several other equities research analysts have also issued reports on ARGX. Citigroup raised their target price on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Oppenheimer raised their price objective on argenex from $1,014.00 to $1,037.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Bank of America raised their target price on shares of argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. UBS Group raised shares of argenex from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $960.00 to $1,400.00 in a report on Wednesday, August 26th. Finally, Wall Street Zen raised argenex from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,158.61.

argenex Price Performance

argenex stock opened at $1,055.37 on Thursday. argenex has a 1 year low of $661.85 and a 1 year high of $1,072.75. The firm’s 50 day moving average price is $920.25 and its 200-day moving average price is $838.50. The stock has a market cap of $66.02 billion, a P/E ratio of 40.53, a PEG ratio of 1.07 and a beta of 0.47.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. As a group, equities analysts expect that argenex will post 29.04 EPS for the current year.

Institutional Investors Weigh In On argenex

A number of institutional investors and hedge funds have recently modified their holdings of the company. HB Wealth Management LLC lifted its holdings in shares of argenex by 15.2% in the 2nd quarter. HB Wealth Management LLC now owns 424 shares of the company’s stock valued at $394,000 after buying an additional 56 shares during the period. Nilsine Partners LLC grew its stake in shares of argenex by 4.3% during the 2nd quarter. Nilsine Partners LLC now owns 4,302 shares of the company’s stock worth $3,991,000 after purchasing an additional 176 shares during the period. Syon Capital LLC increased its holdings in shares of argenex by 4.2% during the 2nd quarter. Syon Capital LLC now owns 1,017 shares of the company’s stock valued at $944,000 after purchasing an additional 41 shares in the last quarter. denkapparat Operations GmbH lifted its stake in shares of argenex by 126.4% in the 2nd quarter. denkapparat Operations GmbH now owns 910 shares of the company’s stock valued at $844,000 after purchasing an additional 508 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in argenex by 36.9% during the second quarter. Concurrent Investment Advisors LLC now owns 375 shares of the company’s stock worth $347,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.