argenex (NASDAQ:ARGX) Price Target Raised to $1,088.00 at Bank of America

argenex (NASDAQ:ARGX) had its price objective hoisted by research analysts at Bank of America from $1,016.00 to $1,088.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 14.21% from the stock’s previous close.

Several other research analysts also recently weighed in on ARGX. Wall Street Zen downgraded argenex from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Deutsche Bank Aktiengesellschaft raised shares of argenex from a “hold” rating to a “buy” rating in a research note on Tuesday, March 10th. Wedbush restated an “outperform” rating and set a $1,000.00 price objective on shares of argenex in a research report on Thursday, June 11th. Guggenheim increased their price objective on shares of argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Oppenheimer dropped their target price on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research report on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,034.56.

argenex Stock Up 4.7%

Shares of NASDAQ:ARGX traded up $43.16 during trading on Thursday, reaching $952.66. 79,436 shares of the company’s stock traded hands, compared to its average volume of 358,891. argenex has a fifty-two week low of $536.02 and a fifty-two week high of $948.26. The company has a 50-day simple moving average of $835.36 and a 200-day simple moving average of $809.82. The firm has a market cap of $59.24 billion, a PE ratio of 42.27, a P/E/G ratio of 1.42 and a beta of 0.45.

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

Institutional Investors Weigh In On argenex

A number of large investors have recently modified their holdings of ARGX. Janus Henderson Group PLC boosted its position in argenex by 3.4% during the first quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock worth $1,847,592,000 after acquiring an additional 83,568 shares during the last quarter. Capital World Investors lifted its stake in argenex by 0.4% in the 3rd quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock worth $1,445,113,000 after purchasing an additional 8,422 shares in the last quarter. M&T Bank Corp lifted its stake in argenex by 20,977.7% in the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock worth $654,772,000 after purchasing an additional 774,916 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of 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 during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of argenex by 19.2% during the 4th quarter. Morgan Stanley now owns 518,852 shares of the company’s stock worth $436,331,000 after purchasing an additional 83,746 shares during the last quarter. Hedge funds and other 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.