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

argenex (NASDAQ:ARGX) had its price target increased by investment analysts at Wells Fargo & Company from $1,260.00 to $1,291.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 55.89% from the company’s previous close.

Several other brokerages also recently issued reports on ARGX. Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a research report on Monday, April 20th. Wedbush reaffirmed an “outperform” rating and set a $1,000.00 target price on shares of argenex in a research note on Monday, March 9th. Oppenheimer reduced their price target on argenex from $1,060.00 to $1,014.00 and set an “outperform” rating for the company in a research report on Thursday, April 2nd. Guggenheim raised their price target on argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada cut their price objective on shares of argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Two investment 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 stock. According to data from MarketBeat.com, argenex has an average rating of “Moderate Buy” and a consensus price target of $1,019.50.

argenex Trading Down 0.9%

argenex stock traded down $7.85 during mid-day trading on Monday, reaching $828.14. The company’s stock had a trading volume of 37,225 shares, compared to its average volume of 348,963. argenex has a twelve month low of $510.05 and a twelve month high of $934.62. The business has a 50 day moving average price of $779.30 and a 200-day moving average price of $814.88. The firm has a market cap of $51.50 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 1.32 and a beta of 0.47.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. The firm had revenue of $1.31 billion for the quarter. argenex had a net margin of 31.31% and a return on equity of 33.28%. On average, equities analysts expect that argenex will post 25.27 EPS for the current fiscal year.

Hedge Funds Weigh In On argenex

Several hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in shares of argenex by 3.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock worth $1,847,592,000 after acquiring an additional 83,568 shares in the last quarter. Capital World Investors boosted its position in shares of argenex by 0.4% in the 3rd quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock valued at $1,445,113,000 after purchasing an additional 8,422 shares during the period. M&T Bank Corp increased its stake in argenex by 20,977.7% in the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock worth $654,772,000 after purchasing an additional 774,916 shares in the last quarter. Wellington Management Group LLP increased its stake in argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after purchasing an additional 324,653 shares in the last quarter. Finally, Morgan Stanley raised its holdings in argenex by 19.2% during the 4th quarter. Morgan Stanley now owns 518,852 shares of the company’s stock worth $436,331,000 after buying an additional 83,746 shares during the period. 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.