argenex (NASDAQ:ARGX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. raised its target price for argenex from $775.00 to $830.00, indicating a potential upside of 22.12% from the current stock price.
• Numerous analysts have given argenex positive ratings, with 19 analysts rating the stock as a buy and a consensus price target of $746.81.
• The company reported earnings of $3.74 per share, exceeding expectations and highlighting strong financial performance with a net margin of 40.98%.

argenex (NASDAQ:ARGX - Get Free Report) had its target price boosted by JPMorgan Chase & Co. from $775.00 to $830.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 22.12% from the company's current price.

Several other equities analysts have also commented on ARGX. Wedbush reaffirmed an "outperform" rating and issued a $715.00 price target on shares of argenex in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft raised shares of argenex from a "hold" rating to a "buy" rating in a research note on Tuesday, July 8th. HC Wainwright increased their price objective on shares of argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a research report on Friday. Guggenheim boosted their target price on argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research report on Friday. Finally, Robert W. Baird upgraded argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price target for the company in a research report on Tuesday, May 13th. Nineteen 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 presently has a consensus rating of "Buy" and a consensus price target of $746.81.

argenex Stock Performance

NASDAQ ARGX traded up $5.88 on Monday, reaching $679.68. 177,548 shares of the stock traded hands, compared to its average volume of 373,163. The company has a market cap of $41.60 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 0.93 and a beta of 0.39. The company has a fifty day moving average price of $571.11 and a 200-day moving average price of $596.29. argenex has a 12 month low of $475.65 and a 12 month high of $689.13.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. As a group, research analysts anticipate that argenex will post 3.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenex

A number of hedge funds have recently bought and sold shares of ARGX. GeoWealth Management LLC boosted its stake in shares of argenex by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after acquiring an additional 18 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of argenex by 56.4% in the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after buying an additional 22 shares during the period. WPG Advisers LLC purchased a new position in shares of argenex during the 1st quarter valued at about $37,000. FIL Ltd purchased a new stake in argenex in the 4th quarter worth approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in argenex during the 4th quarter worth approximately $38,000. Hedge funds and other 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.

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.