argenex (NASDAQ:ARGX) Coverage Initiated by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has initiated coverage on argenex (NASDAQ:ARGX), setting an "outperform" rating with a price target of $850.00, indicating a potential upside of 28.79% from the previous close.
• The stock has received multiple positive ratings from various analysts, with the majority giving it a "Buy" rating and an average target price of $752.88.
• In its latest quarterly earnings report, argenex exceeded expectations with an EPS of $3.74 and revenue of $866.79 million, surpassing analyst estimates.

Royal Bank Of Canada initiated coverage on shares of argenex (NASDAQ:ARGX - Free Report) in a report published on Monday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $850.00 target price on the stock.

Several other research analysts have also weighed in on ARGX. Wells Fargo & Company boosted their price objective on shares of argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Oppenheimer boosted their price objective on shares of argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Guggenheim lifted their target price on shares of argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Robert W. Baird raised shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 target price for the company in a report on Tuesday, May 13th. Finally, Citigroup reaffirmed a "buy" rating on shares of argenex in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $766.50.

argenex Price Performance

ARGX stock traded up $8.13 during midday trading on Monday, hitting $712.20. The company's stock had a trading volume of 353,562 shares, compared to its average volume of 375,196. argenex has a twelve month low of $510.05 and a twelve month high of $716.62. The company's fifty day moving average price is $607.77 and its 200 day moving average price is $599.30. The stock has a market capitalization of $43.59 billion, a P/E ratio of 36.52, a PEG ratio of 0.81 and a beta of 0.39.

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

Hedge Funds Weigh In On argenex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rakuten Securities Inc. raised its position in shares of argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after buying an additional 22 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in argenex during the 4th quarter worth approximately $38,000. WPG Advisers LLC acquired a new position in argenex during the 1st quarter worth approximately $37,000. Golden State Wealth Management LLC acquired a new position in argenex during the 1st quarter worth approximately $44,000. Finally, Brooklyn Investment Group increased its position in argenex by 102.7% during the 1st quarter. Brooklyn Investment Group now owns 75 shares of the company's stock worth $44,000 after purchasing an additional 38 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenex Company Profile

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.