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

argenex (NASDAQ:ARGX)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Thursday,Benzinga reports. They currently have a $1,000.00 price target on the stock. Wedbush’s price objective suggests a potential upside of 12.76% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada reduced their target price on shares of argenex from $925.00 to $890.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Robert W. Baird lifted their price target on shares of argenex from $858.00 to $867.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Oppenheimer cut their price target on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research report on Thursday, April 2nd. Zacks Research upgraded shares of argenex from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded argenex from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,019.50.

argenex Stock Performance

NASDAQ:ARGX opened at $886.88 on Thursday. The stock has a 50-day simple moving average of $805.71 and a 200 day simple moving average of $811.74. argenex has a 52-week low of $510.05 and a 52-week high of $934.62. The company has a market cap of $55.15 billion, a PE ratio of 39.39, a PEG ratio of 1.35 and a beta of 0.47.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. The firm had revenue of $1.31 billion for the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%. On average, research analysts predict that argenex will post 26.19 earnings per share for the current fiscal year.

Institutional Trading of argenex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in argenex by 32.1% in the first quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock valued at $297,000 after acquiring an additional 122 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of argenex by 5,962.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock worth $862,000 after purchasing an additional 1,431 shares during the last quarter. Focus Partners Wealth increased its stake in shares of argenex by 22.3% during the 1st quarter. Focus Partners Wealth now owns 400 shares of the company’s stock worth $237,000 after purchasing an additional 73 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of argenex by 550.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock valued at $69,000 after purchasing an additional 99 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of argenex by 60.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company’s stock valued at $73,000 after purchasing an additional 50 shares during the period. 60.32% of the stock is owned by 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.