argenex (NASDAQ:ARGX) Price Target Raised to $774.00 at HC Wainwright

Key Points

• HC Wainwright raised their price target on argenex to $774.00, indicating a potential upside of 15.47% from the stock's current price.
• The stock is rated as a "buy" by 19 analysts, with a consensus price target of $732.38.
• Argentex recently posted quarterly earnings of $2.58 per share, exceeding estimates by $0.26, contributing to strong investor confidence in the company.

argenex (NASDAQ:ARGX - Get Free Report) had its price objective hoisted by analysts at HC Wainwright from $720.00 to $774.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 15.47% from the stock's current price.

Several other research analysts have also recently issued reports on ARGX. JMP Securities set a $699.00 price objective on argenex in a research report on Wednesday, May 14th. Wells Fargo & Company boosted their price target on argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a report on Thursday. Robert W. Baird upgraded argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price objective on the stock in a report on Tuesday, May 13th. Oppenheimer raised their price objective on argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Finally, Wedbush restated an "outperform" rating and set a $715.00 price objective on shares of argenex in a report on Monday, July 21st. Nineteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $732.38.

argenex Price Performance

Shares of argenex stock opened at $670.33 on Friday. The firm's fifty day simple moving average is $569.39 and its 200-day simple moving average is $597.15. argenex has a 12 month low of $475.65 and a 12 month high of $689.13. The stock has a market capitalization 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 (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating 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 firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. Analysts anticipate that argenex will post 3.13 earnings per share for the current year.

Institutional Investors Weigh In On argenex

A number of large investors have recently added to or reduced their stakes in ARGX. LPL Financial LLC grew its holdings in argenex by 113.4% during the 4th quarter. LPL Financial LLC now owns 16,317 shares of the company's stock valued at $10,035,000 after purchasing an additional 8,671 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in argenex by 44.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,138 shares of the company's stock valued at $1,930,000 after purchasing an additional 969 shares in the last quarter. Franklin Resources Inc. grew its holdings in argenex by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 134,591 shares of the company's stock valued at $82,774,000 after purchasing an additional 573 shares in the last quarter. Geode Capital Management LLC grew its holdings in argenex by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 27,207 shares of the company's stock valued at $16,732,000 after purchasing an additional 458 shares in the last quarter. Finally, Huntington National Bank grew its holdings in argenex by 1,133.3% during the 4th quarter. Huntington National Bank now owns 74 shares of the company's stock valued at $46,000 after purchasing an additional 68 shares in the last quarter. 60.32% of the stock is 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.

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