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

argenex (NASDAQ:ARGX)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $1,000.00 target price on the stock. Wedbush’s price objective suggests a potential upside of 23.99% from the company’s current price.

A number of other equities analysts also recently weighed in on ARGX. Evercore ISI boosted their target price on argenex from $775.00 to $910.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Wolfe Research reissued a “peer perform” rating on shares of argenex in a research report on Monday, November 24th. DZ Bank upgraded argenex to a “strong-buy” rating in a research note on Friday, December 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of argenex in a research report on Wednesday, October 8th. Finally, TD Cowen boosted their price target on shares of argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, argenex presently has an average rating of “Moderate Buy” and an average price target of $986.72.

argenex Price Performance

ARGX opened at $806.54 on Wednesday. argenex has a 1 year low of $510.05 and a 1 year high of $934.62. The company has a market capitalization of $49.66 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 0.51 and a beta of 0.38. The firm’s fifty day moving average price is $869.61 and its two-hundred day moving average price is $759.54.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, beating 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 company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. As a group, equities analysts anticipate that argenex will post 3.13 EPS for the current year.

Hedge Funds Weigh In On argenex

Several large investors have recently modified their holdings of the business. Capital World Investors lifted its stake in shares of argenex by 0.4% during the 3rd quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock valued at $1,445,113,000 after buying an additional 8,422 shares in the last quarter. Wellington Management Group LLP raised its holdings in argenex by 80.1% during the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after acquiring an additional 324,653 shares during the period. Bank of America Corp DE raised its holdings in argenex by 1.9% during the 3rd quarter. Bank of America Corp DE now owns 342,379 shares of the company’s stock valued at $252,525,000 after acquiring an additional 6,259 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of argenex by 114.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after acquiring an additional 158,476 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in shares of argenex by 570.3% in the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock worth $216,961,000 after acquiring an additional 250,278 shares during the period. Hedge funds and other institutional investors 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.