Bank of America Increases argenex (NASDAQ:ARGX) Price Target to $887.00

Key Points

• Bank of America increased its price target for argenex from $880.00 to $887.00, indicating a potential upside of 26.27% from the last closing price.
• Analysts maintain a consensus rating of "Buy" for argenex, with a reported average target price of $772.84.
• The company reported an EPS of $3.74 for the last quarter, surpassing the consensus estimate by $0.90.

argenex (NASDAQ:ARGX - Get Free Report) had its price target upped by research analysts at Bank of America from $880.00 to $887.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price target would suggest a potential upside of 18.14% from the company's previous close.

ARGX has been the topic of several other research reports. Morgan Stanley increased their price target on argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Robert W. Baird upgraded argenex from a "neutral" rating to an "outperform" rating and set a $680.00 target price on the stock in a report on Tuesday, May 13th. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Wells Fargo & Company lifted their price target on argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Guggenheim lifted their price target on argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $772.84.

argenex Stock Up 2.3%

NASDAQ:ARGX traded up $17.12 on Tuesday, hitting $750.78. The stock had a trading volume of 485,995 shares, compared to its average volume of 365,485. The business's fifty day moving average is $627.89 and its 200 day moving average is $602.63. The company has a market cap of $45.95 billion, a PE ratio of 38.50, a P/E/G ratio of 0.78 and a beta of 0.41. argenex has a 52 week low of $510.05 and a 52 week high of $754.00.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.90. The business had revenue of $866.79 million for the quarter, compared to analyst estimates of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. Equities analysts predict that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenex

A number of large investors have recently bought and sold shares of ARGX. Dimensional Fund Advisors LP increased its position in argenex by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock worth $15,332,000 after buying an additional 4,445 shares during the last quarter. Northern Trust Corp increased its position in argenex by 42.7% in the fourth quarter. Northern Trust Corp now owns 54,128 shares of the company's stock worth $33,289,000 after buying an additional 16,188 shares during the last quarter. Ameriprise Financial Inc. increased its position in argenex by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after buying an additional 639 shares during the last quarter. BNP Paribas Financial Markets increased its position in argenex by 138.4% in the fourth quarter. BNP Paribas Financial Markets now owns 10,232 shares of the company's stock worth $6,293,000 after buying an additional 5,940 shares during the last quarter. Finally, Bayesian Capital Management LP increased its position in argenex by 38.0% in the fourth quarter. Bayesian Capital Management LP now owns 621 shares of the company's stock worth $382,000 after buying an additional 171 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

About argenex

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren's syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.