argenex (NASDAQ:ARGX) Price Target Raised to $766.00 at Morgan Stanley

Key Points

• Morgan Stanley increased their price target for argenex (NASDAQ:ARGX) from $700 to $766, suggesting a potential upside of 14.13% from the current price.
• Nineteen research analysts have given argenex a buy rating, with a consensus price target of $736.81 based on recent evaluations.
• In its latest earnings report, argenex reported an EPS of $2.58, exceeding estimates and showcasing significant revenue growth of $1.35 billion for the quarter.

argenex (NASDAQ:ARGX - Free Report) had its price target lifted by Morgan Stanley from $700.00 to $766.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also recently commented on ARGX. JMP Securities set a $699.00 price target on argenex in a research note on Wednesday, May 14th. HC Wainwright upped their price objective on argenex from $720.00 to $774.00 and gave the company a "buy" rating in a research note on Friday. Wedbush restated an "outperform" rating and set a $715.00 price objective on shares of argenex in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft upgraded argenex from a "hold" rating to a "buy" rating in a research note on Tuesday, July 8th. Finally, Guggenheim upped their price objective on argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research note on Friday. Nineteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $736.81.

argenex Stock Up 0.5%

Shares of NASDAQ ARGX traded up $3.47 on Friday, hitting $673.80. The company had a trading volume of 633,642 shares, compared to its average volume of 446,291. argenex has a 12-month low of $475.65 and a 12-month high of $689.13. The business has a 50 day moving average of $571.11 and a two-hundred day moving average of $596.29. The firm has a market capitalization of $41.24 billion, a P/E ratio of 34.55, a PEG ratio of 0.93 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%. The company had revenue of $866.79 million during the quarter, compared to the consensus estimate of $776.82 million. On average, sell-side analysts anticipate that argenex will post 3.13 earnings per share for the current year.

Hedge Funds Weigh In On argenex

Several hedge funds have recently made changes to their positions in the business. GeoWealth Management LLC lifted its position in shares of argenex by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after acquiring an additional 18 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of argenex by 56.4% in the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after purchasing an additional 22 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of argenex in the first quarter valued at $37,000. FIL Ltd purchased a new stake in shares of argenex in the fourth quarter valued at $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of argenex during the fourth quarter worth $38,000. Institutional investors and hedge funds 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.