Brokerages Set argenex SE (NASDAQ:ARGX) Target Price at $766.50

Key Points

• argenex SE (NASDAQ:ARGX) has received a consensus recommendation of "Buy" from twenty-two ratings firms, indicating strong confidence among analysts in the stock's performance.
• The average 12-month target price for the stock is set at $766.50, with several brokerages raising their price objectives, signaling positive outlooks for the company.
• For the last quarter, argenex reported earnings of $3.74 per share, exceeding analysts' forecasts significantly, and generated revenue of $866.79 million, indicating robust financial performance.

Shares of argenex SE (NASDAQ:ARGX - Get Free Report) have been assigned an average rating of "Buy" from the twenty-three analysts that are presently covering the company, Marketbeat Ratings reports. Twenty-one analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $772.8421.

A number of research analysts have recently weighed in on ARGX shares. HC Wainwright raised their price target on shares of argenex from $720.00 to $774.00 and gave the company a "buy" rating in a report on Friday, August 1st. Bank of America increased their target price on shares of argenex from $880.00 to $887.00 and gave the stock a "buy" rating in a research report on Tuesday. Morgan Stanley raised their target price on argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. increased their price objective on argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a report on Monday, August 4th.

Hedge Funds Weigh In On argenex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Greenleaf Trust lifted its stake in shares of argenex by 3.5% in the first quarter. Greenleaf Trust now owns 624 shares of the company's stock worth $369,000 after buying an additional 21 shares during the last quarter. Rakuten Securities Inc. raised its holdings in argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after acquiring an additional 22 shares during the period. Sequoia Financial Advisors LLC lifted its position in argenex by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock worth $1,083,000 after acquiring an additional 24 shares during the last quarter. Main Management ETF Advisors LLC lifted its position in shares of argenex by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 1,466 shares of the company's stock worth $808,000 after purchasing an additional 24 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of argenex by 0.6% in the first quarter. M&T Bank Corp now owns 4,296 shares of the company's stock valued at $2,542,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 60.32% of the company's stock.

argenex Stock Up 1.6%

Shares of ARGX traded up $11.65 during midday trading on Friday, reaching $733.66. 544,073 shares of the stock were exchanged, compared to its average volume of 354,959. The company has a market cap of $44.90 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 0.76 and a beta of 0.41. argenex has a 12-month low of $510.05 and a 12-month high of $742.52. The firm has a 50 day simple moving average of $624.07 and a 200-day simple moving average of $601.86.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, beating the consensus estimate of $2.84 by $0.90. The business had revenue of $866.79 million during the quarter, compared to analysts' expectations of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. Research analysts expect 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.