argenex (NASDAQ:ARGX) Given New $1,415.00 Price Target at Wells Fargo & Company

argenex (NASDAQ:ARGX) had its price target increased by Wells Fargo & Company from $1,350.00 to $1,415.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 38.79% from the stock’s previous close.

Other analysts have also issued reports about the stock. Morgan Stanley raised their price objective on shares of argenex from $1,200.00 to $1,230.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. Piper Sandler increased their target price on argenex from $1,075.00 to $1,215.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Citizens Jmp increased their target price on argenex from $932.00 to $1,200.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 18th. UBS Group upgraded argenex from a “neutral” rating to a “buy” rating and set a $1,400.00 target price for the company in a research note on Wednesday. Finally, Wall Street Zen lowered argenex from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,157.50.

argenex Trading Up 0.8%

NASDAQ:ARGX opened at $1,019.49 on Wednesday. The company has a 50-day moving average price of $900.50 and a 200-day moving average price of $829.46. argenex has a 12 month low of $661.85 and a 12 month high of $1,058.69. The stock has a market cap of $63.78 billion, a price-to-earnings ratio of 39.15, a P/E/G ratio of 1.05 and a beta of 0.46.

argenex (NASDAQ:ARGX) last announced its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. Equities analysts forecast that argenex will post 29.04 EPS for the current fiscal year.

Institutional Trading of argenex

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC increased its position in argenex by 32.1% during the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock valued at $297,000 after buying an additional 122 shares in the last quarter. NewEdge Advisors LLC raised its stake in argenex by 5,962.5% during the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock valued at $862,000 after buying an additional 1,431 shares during the last quarter. Focus Partners Wealth boosted its holdings in argenex by 22.3% in the first quarter. Focus Partners Wealth now owns 400 shares of the company’s stock worth $237,000 after acquiring an additional 73 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in argenex by 550.0% in the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock worth $69,000 after acquiring an additional 99 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of argenex by 60.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company’s stock worth $73,000 after acquiring an additional 50 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

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.