argenex (NASDAQ:ARGX) Given Outperform Rating at Wedbush

argenex (NASDAQ:ARGX - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Wedbush in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $715.00 price objective on the stock. Wedbush's target price would suggest a potential upside of 30.07% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Sanford C. Bernstein upgraded argenex from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Oppenheimer raised their price objective on shares of argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Guggenheim reduced their price objective on shares of argenex from $1,100.00 to $1,065.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft upgraded shares of argenex from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Finally, Citigroup reissued a "buy" rating on shares of argenex in a report on Wednesday, May 21st. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $709.18.

argenex Stock Performance

NASDAQ ARGX opened at $549.72 on Tuesday. The company has a market capitalization of $33.57 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 0.98 and a beta of 0.39. argenex has a 52-week low of $428.76 and a 52-week high of $678.21. The company has a 50-day simple moving average of $584.31 and a 200 day simple moving average of $608.37.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.26. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $748.34 million. argenex had a net margin of 40.20% and a return on equity of 16.15%. As a group, analysts forecast that argenex will post 3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On argenex

Several institutional investors and hedge funds have recently made changes to their positions in ARGX. Point72 Europe London LLP purchased a new stake in argenex during the fourth quarter valued at about $5,839,000. Ameriprise Financial Inc. lifted its stake in shares of argenex by 10.0% in the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock valued at $4,313,000 after acquiring an additional 639 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in argenex by 1,016.7% during the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company's stock valued at $41,000 after acquiring an additional 61 shares during the period. PNC Financial Services Group Inc. boosted its holdings in argenex by 13.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the company's stock valued at $946,000 after acquiring an additional 181 shares during the period. Finally, Rhumbline Advisers grew its position in argenex by 1.9% during the 4th quarter. Rhumbline Advisers now owns 3,608 shares of the company's stock worth $2,219,000 after acquiring an additional 66 shares during the last quarter. Institutional investors own 60.32% of the company's stock.

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.

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