argenex’s (ARGX) “Outperform” Rating Reiterated at Wedbush

argenex (NASDAQ:ARGX)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a report issued on Monday,Benzinga reports. They presently have a $1,000.00 price objective on the stock. Wedbush’s price objective would indicate a potential upside of 39.31% from the stock’s current price.

ARGX has been the subject of several other reports. Guggenheim decreased their target price on shares of argenex from $1,160.00 to $1,120.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Truist Financial increased their price target on shares of argenex from $950.00 to $1,030.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Stifel Nicolaus boosted their price objective on shares of argenex from $1,028.00 to $1,248.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Wells Fargo & Company cut their target price on shares of argenex from $1,317.00 to $1,247.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, DZ Bank raised argenex to a “strong-buy” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $999.22.

argenex Stock Performance

Shares of NASDAQ ARGX opened at $717.80 on Monday. The stock has a 50 day moving average price of $815.53 and a 200 day moving average price of $816.06. The stock has a market capitalization of $44.42 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 1.17 and a beta of 0.38. argenex has a 52 week low of $510.05 and a 52 week high of $934.62.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, February 26th. The company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.05 by $1.97. argenex had a return on equity of 38.51% and a net margin of 30.42%.The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. As a group, research analysts forecast that argenex will post 3.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARGX. AQR Capital Management LLC lifted its position in argenex by 32.1% during the first quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock worth $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 first 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 period. Focus Partners Wealth lifted its holdings in 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. boosted its stake in 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, Bank of Montreal Can grew its holdings in argenex by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 9,433 shares of the company’s stock valued at $5,200,000 after buying an additional 130 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.