argenex (NASDAQ:ARGX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised its price target on argenex to $1,260 (from $1,247) and maintained an "overweight" rating, implying roughly a 60.9% upside from the prior close.
• argenex missed quarterly estimates—reporting $5.52 EPS vs. $5.79 expected and $1.31B revenue vs. $1.44B expected—but posted strong profitability (net margin 30.42%, ROE 38.51%) and holds a consensus rating of "Moderate Buy" with a $1,017.78 target amid heavy institutional ownership (~60.3%).

argenex (NASDAQ:ARGX - Get Free Report) had its price target lifted by equities research analysts at Wells Fargo & Company from $1,247.00 to $1,260.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 60.89% from the stock's previous close.

ARGX has been the subject of several other reports. Royal Bank Of Canada dropped their price target on argenex from $925.00 to $890.00 and set an "outperform" rating for the company in a research report on Friday, February 27th. Robert W. Baird raised their price objective on argenex from $858.00 to $867.00 and gave the company a "neutral" rating in a report on Friday, February 27th. Wedbush restated an "outperform" rating and set a $1,000.00 price target on shares of argenex in a research report on Monday, March 9th. Citigroup cut their price objective on shares of argenex from $1,124.00 to $1,091.00 and set a "buy" rating for the company in a report on Thursday, January 8th. Finally, Oppenheimer decreased their target price on shares of argenex from $1,060.00 to $1,014.00 and set an "outperform" rating on the stock in a research note on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,017.78.

argenex Stock Performance

Shares of NASDAQ ARGX opened at $783.13 on Friday. argenex has a 1 year low of $510.05 and a 1 year high of $934.62. The company has a market capitalization of $48.70 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 1.33 and a beta of 0.46. The company's fifty day moving average price is $755.88 and its 200 day moving average price is $817.54.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $5.52 EPS for the quarter, missing analysts' consensus estimates of $5.79 by ($0.27). The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.44 billion. argenex had a net margin of 30.42% and a return on equity of 38.51%. On average, equities analysts expect that argenex will post 24.63 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARGX. M&T Bank Corp boosted its position in argenex by 20,977.7% in the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company's stock valued at $654,772,000 after buying an additional 774,916 shares during the period. Sands Capital Management LLC raised its stake in shares of argenex by 2,046.6% in the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company's stock valued at $300,110,000 after acquiring an additional 340,245 shares in the last quarter. Invesco Ltd. raised its stake in shares of argenex by 390.4% in the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company's stock valued at $350,178,000 after acquiring an additional 331,489 shares in the last quarter. Wellington Management Group LLP boosted its holdings in argenex by 80.1% in the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company's stock valued at $538,408,000 after purchasing an additional 324,653 shares during the period. Finally, Two Sigma Investments LP grew its stake in argenex by 570.3% during the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company's stock worth $216,961,000 after purchasing an additional 250,278 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

About argenex

argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

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