Brokerages Set argenex SE (NASDAQ:ARGX) Target Price at $982.33

Shares of argenex SE (NASDAQ:ARGX) have been assigned a consensus rating of “Moderate Buy” from the twenty-six research firms that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $982.3333.

A number of research analysts have commented on the company. Zacks Research cut argenex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Citigroup raised their target price on argenex from $1,041.00 to $1,124.00 and gave the company a “buy” rating in a report on Monday, November 17th. Robert W. Baird reaffirmed a “neutral” rating and issued a $858.00 target price (down from $924.00) on shares of argenex in a research report on Thursday, December 18th. Wolfe Research reissued a “peer perform” rating on shares of argenex in a research report on Monday, November 24th. Finally, Wall Street Zen raised shares of argenex from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd.

Hedge Funds Weigh In On argenex

Several institutional investors have recently modified their holdings of the business. Capital World Investors increased its position in shares of argenex by 0.4% during the third quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock worth $1,445,113,000 after acquiring an additional 8,422 shares during the period. Wellington Management Group LLP grew its stake in argenex by 80.1% during 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. Bank of America Corp DE increased its holdings in argenex by 1.9% during the 3rd quarter. Bank of America Corp DE now owns 342,379 shares of the company’s stock worth $252,525,000 after purchasing an additional 6,259 shares during the period. Adage Capital Partners GP L.L.C. raised its position in argenex by 114.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after purchasing an additional 158,476 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of argenex by 570.3% in the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after buying an additional 250,278 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Price Performance

Shares of ARGX stock opened at $839.99 on Friday. The firm has a market cap of $51.72 billion, a PE ratio of 36.07, a price-to-earnings-growth ratio of 0.53 and a beta of 0.38. The company has a 50-day moving average of $872.94 and a two-hundred day moving average of $747.23. argenex has a 1-year low of $510.05 and a 1-year high of $934.62.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.03. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. Sell-side analysts anticipate that argenex will post 3.13 EPS for the current fiscal year.

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.