Truist Financial Issues Positive Forecast for argenex (NASDAQ:ARGX) Stock Price

argenex (NASDAQ:ARGX) had its target price boosted by Truist Financial from $950.00 to $1,030.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 27.70% from the company’s previous close.

A number of other research analysts also recently weighed in on ARGX. Wedbush upped their price target on argenex from $880.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Deutsche Bank Aktiengesellschaft cut shares of argenex from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a research note on Wednesday, October 8th. Baird R W downgraded shares of argenex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Finally, Guggenheim reiterated a “buy” rating and set a $1,070.00 price target on shares of argenex in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, argenex has an average rating of “Moderate Buy” and an average target price of $988.56.

argenex Stock Down 2.0%

Shares of NASDAQ ARGX traded down $16.36 during trading on Thursday, reaching $806.59. The company had a trading volume of 166,047 shares, compared to its average volume of 436,896. The stock has a market cap of $49.66 billion, a P/E ratio of 34.62, a PEG ratio of 0.50 and a beta of 0.38. The company’s fifty day moving average price is $871.73 and its 200-day moving average price is $751.42. argenex has a 12 month low of $510.05 and a 12 month high of $934.62.

argenex (NASDAQ:ARGX) last announced its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.07 billion. As a group, equities analysts predict that argenex will post 3.13 earnings per share for the current year.

Institutional Trading of argenex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sound View Wealth Advisors Group LLC raised its holdings in argenex by 3.4% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 396 shares of the company’s stock worth $292,000 after purchasing an additional 13 shares in the last quarter. GAMMA Investing LLC increased its position in shares of argenex by 6.8% during the third quarter. GAMMA Investing LLC now owns 251 shares of the company’s stock valued at $185,000 after buying an additional 16 shares during the period. Portside Wealth Group LLC increased its position in shares of argenex by 2.8% during the third quarter. Portside Wealth Group LLC now owns 583 shares of the company’s stock valued at $430,000 after buying an additional 16 shares during the period. Harbor Investment Advisory LLC raised its stake in argenex by 13.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 131 shares of the company’s stock worth $110,000 after buying an additional 16 shares in the last quarter. Finally, Cromwell Holdings LLC lifted its holdings in argenex by 10.0% in the third quarter. Cromwell Holdings LLC now owns 187 shares of the company’s stock worth $138,000 after buying an additional 17 shares during the period. 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.