argenex (NASDAQ:ARGX) Stock Price Target Cut by Citigroup

argenex (NASDAQ:ARGX) had its price target dropped by research analysts at Citigroup from $1,301.00 to $1,232.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s price target points to a potential upside of 39.61% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. DZ Bank reiterated a “buy” rating on shares of argenex in a research note on Friday, October 9th. Robert W. Baird increased their price objective on shares of argenex from $823.00 to $861.00 and gave the company a “neutral” rating in a research note on Friday. Truist Financial raised their price objective on shares of argenex from $1,030.00 to $1,095.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Wall Street Zen lowered shares of argenex from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Barclays reiterated a “buy” rating on shares of argenex in a research report on Monday, September 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, argenex currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,145.00.

argenex Stock Performance

Shares of ARGX traded up $13.15 during trading hours on Tuesday, reaching $882.48. 285,142 shares of the company traded hands, compared to its average volume of 351,758. The stock’s fifty day moving average is $953.35 and its 200 day moving average is $853.01. The stock has a market cap of $55.50 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 0.89 and a beta of 0.44. argenex has a 1-year low of $661.85 and a 1-year high of $1,072.75.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Friday, October 23rd. The company reported $7.80 earnings per share for the quarter, topping the consensus estimate of $7.44 by $0.36. The company had revenue of $1.75 billion for the quarter. argenex had a return on equity of 47.70% and a net margin of 31.66%. On average, equities research analysts predict that argenex will post 25.79 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Eastern Bank bought a new position in argenex in the 2nd quarter valued at $32,000. Whipplewood Advisors LLC acquired a new stake in shares of argenex in the 1st quarter valued at $28,000. Axiom Investment Management LLC acquired a new stake in shares of argenex in the 1st quarter valued at $50,000. Mather Group LLC. increased its stake in shares of argenex by 19.1% in the 3rd quarter. Mather Group LLC. now owns 81 shares of the company’s stock valued at $78,000 after buying an additional 13 shares during the period. Finally, WPG Advisers LLC raised its position in shares of argenex by 17.8% during the first quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after acquiring an additional 13 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Company Profile

argenx SE (NASDAQ: ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company uses its antibody engineering capabilities to discover and advance medicines designed to target disease-causing immune mechanisms.

argenx’s lead product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce levels of disease-causing immunoglobulin G antibodies. VYVGART is approved in several markets for the treatment of generalized myasthenia gravis.