argenex (NASDAQ:ARGX) Given New $1,356.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised argenex’s price target from $1,355 to $1,356 and maintained an “overweight” rating, implying 63.56% upside from the prior close.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $1,151.95, though some firms have issued neutral or hold ratings.
• argenex shares rose 3.3% to $829.08, while the company’s latest quarterly results beat expectations with $7.32 in adjusted earnings per share and $1.54 billion in revenue.

argenex (NASDAQ:ARGX - Get Free Report) had its price objective upped by analysts at Wells Fargo & Company from $1,355.00 to $1,356.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 63.56% from the stock's previous close.

ARGX has been the topic of a number of other research reports. Robert W. Baird decreased their price target on shares of argenex from $932.00 to $823.00 and set a "neutral" rating on the stock in a report on Friday, October 9th. Wall Street Zen cut shares of argenex from a "buy" rating to a "hold" rating in a research report on Saturday, September 19th. Weiss Ratings lowered shares of argenex from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd. Piper Sandler upped their target price on shares of argenex from $1,075.00 to $1,215.00 and gave the stock an "overweight" rating in a research report on Monday, August 17th. Finally, UBS Group raised argenex from a "neutral" rating to a "buy" rating and increased their target price for the company from $960.00 to $1,400.00 in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,151.95.

argenex Trading Up 3.3%

Shares of NASDAQ ARGX traded up $26.43 during midday trading on Wednesday, hitting $829.08. 114,252 shares of the company's stock were exchanged, compared to its average volume of 343,935. argenex has a 12-month low of $661.85 and a 12-month high of $1,072.75. The company has a market cap of $51.87 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 0.85 and a beta of 0.44. The business's fifty day moving average price is $958.72 and its two-hundred day moving average price is $879.19.

argenex (NASDAQ:ARGX - Get Free Report) 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 business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.45 billion. Equities analysts expect that argenex will post 28.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenex

A number of institutional investors have recently made changes to their positions in the business. Whipplewood Advisors LLC purchased a new position in shares of argenex in the first quarter valued at about $28,000. Eastern Bank bought a new position in shares of argenex during the second quarter valued at about $32,000. Axiom Investment Management LLC bought a new position in shares of argenex during the first quarter valued at about $50,000. WPG Advisers LLC boosted its holdings in shares of argenex by 17.8% during the first quarter. WPG Advisers LLC now owns 86 shares of the company's stock worth $63,000 after purchasing an additional 13 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of argenex by 616.7% during the first quarter. Fifth Third Bancorp now owns 172 shares of the company's stock worth $126,000 after purchasing an additional 148 shares during the period. Hedge funds and other 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 combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx's leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).

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