argenex’s (ARGX) “Buy” Rating Reiterated at HC Wainwright

argenex (NASDAQ:ARGX)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $940.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 10.26% from the company’s previous close.

A number of other equities analysts also recently issued reports on ARGX. Weiss Ratings reissued a “hold (c)” rating on shares of argenex in a report on Monday, April 20th. Robert W. Baird upped their target price on shares of argenex from $858.00 to $867.00 and gave the company a “neutral” rating in a report on Friday, February 27th. Wells Fargo & Company increased their price target on shares of argenex from $1,260.00 to $1,291.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Morgan Stanley increased their price target on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and set a $1,000.00 price target on shares of argenex in a research note on Thursday, June 11th. 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,023.39.

argenex Stock Performance

ARGX stock opened at $852.50 on Thursday. The company has a market cap of $53.02 billion, a price-to-earnings ratio of 37.96, a P/E/G ratio of 1.30 and a beta of 0.47. The business’s 50-day moving average is $828.47 and its two-hundred day moving average is $809.44. argenex has a fifty-two week low of $510.05 and a fifty-two week high of $934.62.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%.The business had revenue of $1.31 billion during the quarter. Equities analysts predict that argenex will post 26.19 earnings per share for the current year.

Hedge Funds Weigh In On argenex

Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in argenex by 11.6% in the 3rd quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock worth $169,474,000 after purchasing an additional 23,864 shares in the last quarter. US Bancorp DE grew its position in shares of argenex by 37.2% during the third quarter. US Bancorp DE now owns 7,073 shares of the company’s stock valued at $5,217,000 after purchasing an additional 1,919 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of argenex during the fourth quarter valued at about $20,475,000. Sands Capital Management LLC bought a new stake in shares of argenex in the third quarter worth about $12,262,000. Finally, Sivik Global Healthcare LLC purchased a new stake in shares of argenex in the fourth quarter worth about $1,261,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

About argenex

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.