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

argenex (NASDAQ:ARGX) had its price target hoisted by research analysts at Wells Fargo & Company from $1,247.00 to $1,260.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 60.89% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Oppenheimer cut their target price on 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. Guggenheim dropped their price target on shares of argenex from $1,160.00 to $1,120.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Glj Research raised shares of argenex to a “strong-buy” rating in a report on Friday, April 3rd. HC Wainwright boosted their price objective on shares of argenex from $915.00 to $940.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Citizens Jmp upped their target price on shares of argenex from $925.00 to $944.00 and gave the company a “market outperform” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, argenex presently has an average rating of “Moderate Buy” and an average price target of $1,017.78.

argenex Stock Down 0.5%

NASDAQ ARGX opened at $783.13 on Friday. The firm has a 50 day moving average of $755.88 and a two-hundred day moving average of $817.54. The stock has a market capitalization of $48.70 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 1.33 and a beta of 0.46. 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, May 7th. The company reported $5.52 earnings per share for the quarter, missing analysts’ consensus estimates of $5.79 by ($0.27). The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.44 billion. argenex had a net margin of 30.42% and a return on equity of 38.51%. On average, equities research analysts expect that argenex will post 24.63 earnings per share for the current fiscal year.

Institutional Trading of argenex

A number of hedge funds have recently added to or reduced their stakes in ARGX. AQR Capital Management LLC increased its holdings in shares of 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 purchasing an additional 122 shares during the period. NewEdge Advisors LLC lifted its holdings 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 grew its position in argenex by 22.3% in the 1st quarter. Focus Partners Wealth now owns 400 shares of the company’s stock valued at $237,000 after buying an additional 73 shares during the last quarter. Geneos Wealth Management Inc. increased 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 buying an additional 99 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in 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 buying an additional 50 shares during the period. 60.32% of the stock is owned by institutional investors and hedge funds.

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.