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

argenex (NASDAQ:ARGX) had its price target upped by research analysts at Wells Fargo & Company from $1,264.00 to $1,317.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 64.02% from the company’s previous close.

Several other equities research analysts also recently weighed in on ARGX. TD Cowen upped their price target on argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Truist Financial raised their price objective on shares of argenex from $950.00 to $1,030.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Morgan Stanley upped their target price on shares of argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Citigroup cut their price target on shares of argenex from $1,124.00 to $1,091.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $858.00 target price (down from $924.00) on shares of argenex in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $986.78.

argenex Trading Up 0.4%

argenex stock traded up $2.94 during mid-day trading on Tuesday, hitting $802.95. The company’s stock had a trading volume of 156,009 shares, compared to its average volume of 422,322. The firm has a market capitalization of $49.69 billion, a PE ratio of 34.45, a price-to-earnings-growth ratio of 0.51 and a beta of 0.38. argenex has a 1 year low of $510.05 and a 1 year high of $934.62. The stock’s fifty day moving average is $865.70 and its two-hundred day moving average is $766.80.

argenex (NASDAQ:ARGX) last announced its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, topping the consensus estimate of $4.37 by $0.03. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. On average, equities analysts expect that argenex will post 3.13 EPS for the current fiscal year.

Institutional Trading of argenex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Abound Wealth Management raised its position in argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after acquiring an additional 32 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in argenex during the third quarter worth about $32,000. Sunbelt Securities Inc. purchased a new position in argenex in the third quarter valued at about $36,000. Aventura Private Wealth LLC acquired a new stake in shares of argenex during the 4th quarter valued at approximately $38,000. Finally, Bessemer Group Inc. boosted its stake in shares of argenex by 276.5% during the 3rd quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after acquiring an additional 47 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.