argenex (NASDAQ:ARGX) Given New $1,215.00 Price Target at Piper Sandler

argenex (NASDAQ:ARGX) had its price target lifted by Piper Sandler from $1,075.00 to $1,215.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 22.44% from the stock’s previous close.

ARGX has been the topic of a number of other reports. Oppenheimer increased their target price on argenex from $1,014.00 to $1,037.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Wall Street Zen downgraded argenex from a “buy” rating to a “hold” rating in a report on Saturday. HC Wainwright reaffirmed a “buy” rating and set a $940.00 price objective on shares of argenex in a report on Thursday, June 25th. Guggenheim assumed coverage on shares of argenex in a report on Tuesday, August 4th. They issued a “buy” rating and a $1,185.00 target price for the company. Finally, Royal Bank Of Canada raised their price target on shares of argenex from $945.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,072.72.

argenex Price Performance

NASDAQ ARGX traded up $141.06 during mid-day trading on Monday, reaching $992.35. 384,459 shares of the stock were exchanged, compared to its average volume of 347,318. The stock has a market cap of $62.08 billion, a P/E ratio of 38.17, a P/E/G ratio of 1.05 and a beta of 0.46. The stock has a 50 day simple moving average of $881.73 and a 200-day simple moving average of $821.12. argenex has a one year low of $650.01 and a one year high of $1,002.16.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping the consensus estimate of $5.86 by $1.46. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. Sell-side analysts anticipate that argenex will post 28.77 EPS for the current fiscal year.

Institutional Trading of argenex

Hedge funds and other institutional investors have recently modified their holdings of the business. Whipplewood Advisors LLC bought a new position in argenex in the 1st quarter worth approximately $28,000. Eastern Bank bought a new stake in argenex during the 2nd quarter valued at $32,000. Sunbelt Securities Inc. purchased a new stake in shares of argenex during the third quarter worth $36,000. Axiom Investment Management LLC purchased a new stake in shares of argenex during the first quarter worth $50,000. Finally, WPG Advisers LLC boosted its holdings in shares of argenex by 17.8% in the first quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after acquiring an additional 13 shares during the period. 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.