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

Wedbush restated their outperform rating on shares of argenex (NASDAQ:ARGX) in a research note released on Tuesday,Benzinga reports. Wedbush currently has a $715.00 target price on the stock.

A number of other equities research analysts have also issued reports on the company. JMP Securities set a $699.00 price target on argenex in a research note on Wednesday, May 14th. Baird R W upgraded argenex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Guggenheim reduced their price objective on argenex from $1,100.00 to $1,065.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Oppenheimer raised their price objective on argenex from $704.00 to $708.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Finally, Sanford C. Bernstein upgraded argenex from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, argenex currently has a consensus rating of “Buy” and a consensus price target of $729.93.

argenex Stock Performance

Shares of ARGX stock opened at $560.04 on Tuesday. argenex has a 52-week low of $428.76 and a 52-week high of $678.21. The firm has a market capitalization of $34.20 billion, a P/E ratio of 34.55, a P/E/G ratio of 1.02 and a beta of 0.39. The stock has a 50 day moving average price of $582.30 and a 200 day moving average price of $607.41.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.26. argenex had a return on equity of 16.15% and a net margin of 40.20%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $748.34 million. As a group, sell-side 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 made changes to their positions in the stock. GeoWealth Management LLC grew its stake in argenex by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock worth $31,000 after buying an additional 18 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in argenex during the 4th quarter worth $37,000. Global Retirement Partners LLC grew its stake in argenex by 369.2% during the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock worth $38,000 after buying an additional 48 shares during the last quarter. FIL Ltd purchased a new position in argenex during the 4th quarter worth $38,000. Finally, Rakuten Securities Inc. grew its stake in argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock worth $36,000 after buying an additional 22 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

About argenex

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.