argenex (NASDAQ:ARGX) Stock Rating Upgraded by Wall Street Zen

Key Points

• argenex has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased confidence in the company's potential for growth.
• Several analysts have provided positive ratings and target prices for argenex, with a consensus price target of $772.84 based on 21 buy ratings.
• In the latest earnings report, argenex exceeded expectations with a reported EPS of $3.74 and revenue of $866.79 million, significantly above analyst estimates.

argenex (NASDAQ:ARGX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Several other equities analysts have also issued reports on ARGX. Piper Sandler lifted their price target on shares of argenex from $750.00 to $820.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Wedbush reaffirmed an "outperform" rating and issued a $800.00 price target on shares of argenex in a report on Monday, August 25th. Wells Fargo & Company lifted 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. Guggenheim lifted their price objective on shares of argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Baird R W upgraded shares of argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $772.84.

argenex Price Performance

NASDAQ ARGX traded up $0.63 on Friday, hitting $763.52. The stock had a trading volume of 367,572 shares, compared to its average volume of 347,447. The business's fifty day moving average price is $645.47 and its 200 day moving average price is $606.10. argenex has a 52-week low of $510.05 and a 52-week high of $779.03. The stock has a market cap of $46.73 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 0.81 and a beta of 0.41.

argenex (NASDAQ:ARGX - Get Free Report) last released 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. argenex had a net margin of 40.98% and a return on equity of 21.06%. The business had revenue of $866.79 million for the quarter, compared to analyst estimates of $776.82 million. As a group, sell-side analysts anticipate that argenex will post 3.13 EPS for the current year.

Institutional Investors Weigh In On argenex

Several institutional investors and hedge funds have recently made changes to their positions in ARGX. Millennium Management LLC lifted its position in argenex by 316.9% during the first quarter. Millennium Management LLC now owns 268,604 shares of the company's stock valued at $158,977,000 after purchasing an additional 204,180 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in argenex by 114.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company's stock valued at $163,775,000 after purchasing an additional 158,476 shares during the period. Point72 Asset Management L.P. acquired a new position in argenex during the fourth quarter valued at $91,013,000. Franklin Resources Inc. lifted its position in argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company's stock valued at $154,233,000 after purchasing an additional 142,606 shares during the period. Finally, GAMMA Investing LLC lifted its position in argenex by 53,684.9% during the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock valued at $802,200,000 after purchasing an additional 135,286 shares during the period. 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.