argenex (NASDAQ:ARGX) Stock Price Target Lowered at Royal Bank Of Canada

argenex (NASDAQ:ARGX) had its price target decreased by analysts at Royal Bank Of Canada from $1,100.00 to $1,025.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 19.24% from the company’s previous close.

A number of other brokerages also recently commented on ARGX. The Goldman Sachs Group reaffirmed a “buy” rating on shares of argenex in a report on Friday, September 25th. Citigroup boosted their price objective on argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Truist Financial boosted their price objective on argenex from $1,030.00 to $1,095.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft restated a “neutral” rating on shares of argenex in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of argenex in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, argenex has a consensus rating of “Moderate Buy” and a consensus target price of $1,148.00.

argenex Stock Up 4.1%

ARGX stock opened at $859.64 on Tuesday. argenex has a 52 week low of $661.85 and a 52 week high of $1,072.75. The company has a fifty day simple moving average of $955.42 and a two-hundred day simple moving average of $882.64. The firm has a market capitalization of $54.06 billion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 0.75 and a beta of 0.44.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping 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 business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. As a group, analysts anticipate that argenex will post 28.71 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its stake in shares of argenex by 3.4% during the 1st 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. First Trust Advisors LP boosted its holdings in argenex by 98.9% during the 1st quarter. First Trust Advisors LP now owns 107,195 shares of the company’s stock valued at $78,279,000 after acquiring an additional 53,293 shares during the period. Squarepoint Ops LLC boosted its holdings in argenex by 314.8% during the 2nd quarter. Squarepoint Ops LLC now owns 58,400 shares of the company’s stock valued at $54,182,000 after acquiring an additional 44,321 shares during the period. Peregrine Capital Management LLC bought a new position in argenex in the 2nd quarter valued at $27,584,000. Finally, Hsbc Holdings PLC bought a new position in argenex in the 1st quarter valued at $14,882,000. Institutional investors own 60.32% of the company’s stock.

About argenex

argenx SE (NASDAQ: ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company uses its antibody engineering capabilities to discover and advance medicines designed to target disease-causing immune mechanisms.

argenx’s lead product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce levels of disease-causing immunoglobulin G antibodies. VYVGART is approved in several markets for the treatment of generalized myasthenia gravis.