Truist Financial Increases argenex (NASDAQ:ARGX) Price Target to $1,030.00

argenex (NASDAQ:ARGX) had its target price upped by equities research analysts at Truist Financial from $950.00 to $1,030.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 27.70% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Baird R W cut shares of argenex from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. Piper Sandler boosted their price target on argenex from $820.00 to $930.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. upped their price target on argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Stifel Nicolaus raised their price objective on argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Evercore ISI boosted their target price on argenex from $775.00 to $910.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, argenex currently has a consensus rating of “Moderate Buy” and an average price target of $988.56.

argenex Trading Down 2.0%

ARGX traded down $16.36 during trading on Thursday, reaching $806.59. The stock had a trading volume of 166,047 shares, compared to its average volume of 436,896. The company has a market capitalization of $49.66 billion, a price-to-earnings ratio of 34.62, a P/E/G ratio of 0.50 and a beta of 0.38. The stock’s 50 day moving average is $871.73 and its two-hundred day moving average is $751.42. argenex has a one year low of $510.05 and a one year high of $934.62.

argenex (NASDAQ:ARGX) last released its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. The firm 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%. On average, equities research analysts predict that argenex will post 3.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in shares of argenex by 14.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 168,765 shares of the company’s stock worth $99,886,000 after acquiring an additional 21,805 shares during the last quarter. Amundi increased its stake in shares of argenex by 8.1% in the 1st quarter. Amundi now owns 6,351 shares of the company’s stock worth $3,747,000 after purchasing an additional 478 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in argenex by 14.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock worth $162,160,000 after purchasing an additional 26,343 shares during the period. Voya Investment Management LLC raised its holdings in argenex by 5.2% in the 1st quarter. Voya Investment Management LLC now owns 14,905 shares of the company’s stock worth $8,822,000 after purchasing an additional 735 shares during the period. Finally, Aberdeen Group plc lifted its position in argenex by 28.8% during the second quarter. Aberdeen Group plc now owns 70,293 shares of the company’s stock valued at $38,747,000 after purchasing an additional 15,703 shares in the last quarter. 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.