argenex SE (NASDAQ:ARGX) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• argenex SE has received an average rating of "Buy" from twenty-three brokerages, with a twelve-month target price of $789.20.
• Equities analysts have recently upgraded their price targets for argenex, with Truist Financial setting a target as high as $918.00.
• The company reported a strong quarterly earnings result, posting $3.74 EPS and exceeding analyst estimates significantly.

argenex SE (NASDAQ:ARGX - Get Free Report) has earned an average rating of "Buy" from the twenty-three ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $789.20.

A number of equities analysts recently issued reports on ARGX shares. Morgan Stanley lifted their target price on argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Truist Financial lifted their price target on argenex from $700.00 to $918.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Wall Street Zen downgraded argenex from a "buy" rating to a "hold" rating in a report on Sunday, September 14th. Stifel Nicolaus set a $882.00 target price on shares of argenex in a report on Thursday, September 18th. Finally, Wedbush reissued an "outperform" rating and issued a $800.00 target price on shares of argenex in a research report on Monday, August 25th.

argenex Price Performance

ARGX stock opened at $734.39 on Wednesday. The firm has a market cap of $44.94 billion, a PE ratio of 37.66, a P/E/G ratio of 0.81 and a beta of 0.41. argenex has a 12 month low of $510.05 and a 12 month high of $779.03. The firm has a 50 day simple moving average of $675.85 and a 200 day simple moving average of $612.79.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $866.79 million for the quarter, compared to analyst estimates of $776.82 million. As a group, sell-side analysts expect that argenex will post 3.13 earnings per share for the current year.

Institutional Trading of argenex

Hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. grew its holdings in shares of argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after buying an additional 22 shares in the last quarter. WPG Advisers LLC acquired a new stake in argenex during the 1st quarter worth about $37,000. Golden State Wealth Management LLC purchased a new position in argenex during the 1st quarter valued at about $44,000. Brooklyn Investment Group increased its holdings in shares of argenex by 102.7% in the 1st quarter. Brooklyn Investment Group now owns 75 shares of the company's stock valued at $44,000 after purchasing an additional 38 shares during the period. Finally, MAI Capital Management increased its holdings in shares of argenex by 866.7% in the 2nd quarter. MAI Capital Management now owns 87 shares of the company's stock valued at $48,000 after purchasing an additional 78 shares during the period. 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.