argenex SE (NASDAQ:ARGX) Given Average Rating of "Buy" by Brokerages

Key Points

• Shares of argenex SE (NASDAQ:ARGX) have received an average recommendation of "Buy" from 24 research firms, with two analysts giving it a "strong buy" rating.
• The average 1-year price target for argenex is approximately $817.53, with some firms setting targets as high as $1,040.00.
• Institutional investors own 60.32% of the company's stock, with significant recent investments from hedge funds and asset management firms.

Shares of argenex SE (NASDAQ:ARGX - Get Free Report) have earned an average recommendation of "Buy" from the twenty-four research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $817.5263.

Several analysts have recently weighed in on ARGX shares. Wedbush lifted their target price on shares of argenex from $800.00 to $880.00 and gave the company an "outperform" rating in a research report on Monday, October 13th. Stifel Nicolaus set a $882.00 target price on shares of argenex in a research report on Thursday, September 18th. Morgan Stanley boosted their price target on shares of argenex from $766.00 to $1,040.00 and gave the company an "overweight" rating in a research report on Wednesday, October 1st. Zacks Research upgraded shares of argenex from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 22nd. Finally, Wells Fargo & Company boosted their price target on shares of argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st.

Hedge Funds Weigh In On argenex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in argenex in the first quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new position in argenex in the first quarter valued at about $44,000. Brooklyn Investment Group boosted its position in argenex by 102.7% in the first quarter. Brooklyn Investment Group now owns 75 shares of the company's stock valued at $44,000 after buying an additional 38 shares in the last quarter. MAI Capital Management boosted its position in argenex by 866.7% in the second quarter. MAI Capital Management now owns 87 shares of the company's stock valued at $48,000 after buying an additional 78 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new position in shares of argenex during the first quarter worth approximately $62,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenex Stock Performance

Shares of argenex stock opened at $843.66 on Friday. The firm's 50-day simple moving average is $734.69 and its 200-day simple moving average is $635.98. argenex has a twelve month low of $510.05 and a twelve month high of $849.99. The firm has a market cap of $51.63 billion, a P/E ratio of 43.26, a price-to-earnings-growth ratio of 0.91 and a beta of 0.46.

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, beating 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. On average, equities analysts forecast that argenex will post 3.13 earnings per share for the current fiscal year.

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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