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argenex (NASDAQ:ARGX) Price Target Raised to $756.00

argenex logo with Medical background

Key Points

  • Wells Fargo & Company raised its price target for argenex from $741.00 to $756.00, indicating a potential upside of 12.78% from the current stock price.
  • Overall, nineteen analysts have given the stock a buy rating, with an average target price of $729.00.
  • Argenex's stock rose by 11.9%, reaching $670.33, driven by strong quarterly earnings and investor confidence.
  • Interested in argenex? Here are five stocks we like better.

argenex (NASDAQ:ARGX - Get Free Report) had its price objective lifted by equities research analysts at Wells Fargo & Company from $741.00 to $756.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 12.78% from the stock's current price.

A number of other analysts have also issued reports on ARGX. Baird R W upgraded shares of argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Morgan Stanley started coverage on shares of argenex in a research note on Thursday, July 3rd. They set an "overweight" rating and a $700.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded argenex from a "hold" rating to a "buy" rating in a research note on Tuesday, July 8th. JMP Securities set a $699.00 target price on argenex in a research note on Wednesday, May 14th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $715.00 price target on shares of argenex in a research report on Monday, July 21st. Nineteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $729.00.

Read Our Latest Analysis on argenex

argenex Stock Up 11.9%

ARGX traded up $71.44 during trading on Thursday, reaching $670.33. The company's stock had a trading volume of 1,377,303 shares, compared to its average volume of 372,913. The firm has a fifty day simple moving average of $567.33 and a two-hundred day simple moving average of $597.14. The company has a market cap of $41.02 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 1.07 and a beta of 0.37. argenex has a 1 year low of $475.65 and a 1 year high of $689.13.

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

Institutional Investors Weigh In On argenex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its holdings in shares of argenex by 14.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,464 shares of the company's stock valued at $1,909,000 after purchasing an additional 449 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in argenex by 27.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,934 shares of the company's stock valued at $1,066,000 after buying an additional 412 shares in the last quarter. WESPAC Advisors SoCal LLC acquired a new stake in shares of argenex in the second quarter worth about $824,000. Stephens Inc. AR boosted its stake in shares of argenex by 22.4% during the 2nd quarter. Stephens Inc. AR now owns 633 shares of the company's stock worth $349,000 after acquiring an additional 116 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of argenex by 18.9% during the 2nd quarter. Allianz Asset Management GmbH now owns 3,026 shares of the company's stock valued at $1,668,000 after acquiring an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Company Profile

(Get Free Report)

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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Analyst Recommendations for argenex (NASDAQ:ARGX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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