argenex (NASDAQ:ARGX) Now Covered by Morgan Stanley

Equities researchers at Morgan Stanley assumed coverage on shares of argenex (NASDAQ:ARGX) in a note issued to investors on Thursday. The firm set an “overweight” rating and a $700.00 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 28.41% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Robert W. Baird raised shares of argenex from a “neutral” rating to an “outperform” rating and set a $680.00 price objective on the stock in a research report on Tuesday, May 13th. Citigroup restated a “buy” rating on shares of argenex in a report on Wednesday, May 21st. Baird R W raised shares of argenex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Sanford C. Bernstein raised argenex from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Finally, JMP Securities set a $699.00 target price on argenex in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, argenex presently has a consensus rating of “Buy” and an average price target of $728.06.

argenex Trading Up 0.5%

Shares of ARGX stock opened at $545.11 on Thursday. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 33.63, a P/E/G ratio of 0.98 and a beta of 0.37. argenex has a 1-year low of $432.96 and a 1-year high of $678.21. The stock’s fifty day simple moving average is $578.55 and its 200-day simple moving average is $605.84.

argenex (NASDAQ:ARGX) last released its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.26. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $748.34 million. argenex had a return on equity of 16.15% and a net margin of 40.20%. On average, sell-side analysts predict that argenex will post 3.13 EPS for the current year.

Institutional Investors Weigh In On argenex

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARGX. Point72 Europe London LLP acquired a new position in argenex during the fourth quarter valued at approximately $5,839,000. Ameriprise Financial Inc. grew its stake in argenex by 10.0% in the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company’s stock valued at $4,313,000 after buying an additional 639 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in argenex by 1,016.7% in the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock worth $41,000 after acquiring an additional 61 shares during the period. PNC Financial Services Group Inc. raised its holdings in argenex by 13.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the company’s stock worth $946,000 after acquiring an additional 181 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in argenex by 21.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,214 shares of the company’s stock worth $2,592,000 after acquiring an additional 755 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.