argenex (NASDAQ:ARGX) Stock Price Target Cut by Citigroup

Key Points

• Citigroup lowered argenx’s price target to $1,232 from $1,301 while maintaining a “Buy” rating, implying 39.61% upside from the prior close.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $1,145; 24 analysts rate the stock Buy or Strong Buy, while six assign Hold ratings.
• ARGX shares rose 1.5% to $882.48, while the company reported quarterly EPS of $7.80, beating estimates of $7.44, and revenue of $1.75 billion. Institutional investors own 60.32% of the stock.

argenex (NASDAQ:ARGX - Get Free Report) had its price target decreased by research analysts at Citigroup from $1,301.00 to $1,232.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 39.61% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on ARGX. Jefferies Financial Group reiterated a "buy" rating on shares of argenex in a report on Monday, September 14th. Wedbush cut their target price on argenex from $1,150.00 to $1,130.00 and set an "outperform" rating on the stock in a report on Thursday, October 8th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of argenex in a research report on Wednesday, August 5th. Piper Sandler upped their price target on argenex from $1,075.00 to $1,215.00 and gave the stock an "overweight" rating in a research note on Monday, August 17th. Finally, Sanford C. Bernstein reissued a "buy" rating on shares of argenex in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,145.00.

argenex Stock Up 1.5%

Shares of ARGX traded up $13.15 during midday trading on Tuesday, reaching $882.48. 285,142 shares of the stock were exchanged, compared to its average volume of 351,758. argenex has a 12-month low of $661.85 and a 12-month high of $1,072.75. The firm has a 50 day simple moving average of $953.35 and a 200-day simple moving average of $853.01. The company has a market cap of $55.50 billion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 0.89 and a beta of 0.44.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Friday, October 23rd. The company reported $7.80 EPS for the quarter, beating the consensus estimate of $7.44 by $0.36. The business had revenue of $1.75 billion during the quarter. argenex had a return on equity of 47.70% and a net margin of 31.66%. Research analysts expect that argenex will post 25.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenex

A number of hedge funds have recently bought and sold shares of ARGX. Tidal Investments LLC lifted its position in shares of argenex by 97.8% during the 2nd quarter. Tidal Investments LLC now owns 2,362 shares of the company's stock worth $2,191,000 after purchasing an additional 1,168 shares during the last quarter. Squarepoint Ops LLC grew its holdings in argenex by 314.8% in the 2nd quarter. Squarepoint Ops LLC now owns 58,400 shares of the company's stock valued at $54,182,000 after buying an additional 44,321 shares during the last quarter. Peregrine Capital Management LLC acquired a new stake in argenex in the 2nd quarter valued at approximately $27,584,000. Optiver Holding B.V. grew its holdings in argenex by 907.0% in the 1st quarter. Optiver Holding B.V. now owns 10,110 shares of the company's stock valued at $7,383,000 after buying an additional 9,106 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in argenex by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company's stock valued at $1,847,592,000 after buying an additional 83,568 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors.

argenex Company Profile

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.

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