argenex (NASDAQ:ARGX) Receives Buy Rating from Guggenheim

Key Points

• Guggenheim has reaffirmed a buy rating for argenex (NASDAQ:ARGX), setting a price target of $1,070.00, indicating a potential upside of 45.62% from the stock's previous close.
• Analyzing recent trends, argenex has received mixed ratings from other analysts, with two giving a Strong Buy rating and a consensus average price target of $784.32.
• In its latest quarterly earnings, argenex reported an EPS of $3.74, surpassing estimates and demonstrating a solid revenue of $866.79 million.

Guggenheim reiterated their buy rating on shares of argenex (NASDAQ:ARGX - Free Report) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $1,070.00 target price on the stock.

ARGX has been the subject of several other reports. Wall Street Zen cut shares of argenex from a "buy" rating to a "hold" rating in a research note on Sunday, September 14th. HC Wainwright lifted their target price on argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Jefferies Financial Group set a $818.00 price target on argenex and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft lowered argenex from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Finally, Piper Sandler increased their price target on argenex from $750.00 to $820.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $789.20.

argenex Price Performance

Shares of ARGX traded up $4.99 during trading hours on Thursday, hitting $736.76. The stock had a trading volume of 730,390 shares, compared to its average volume of 367,879. The company's fifty day moving average is $668.71 and its two-hundred day moving average is $610.94. argenex has a 52 week low of $510.05 and a 52 week high of $779.03. The stock has a market capitalization of $45.09 billion, a price-to-earnings ratio of 37.78, a P/E/G ratio of 0.80 and a beta of 0.41.

argenex (NASDAQ:ARGX - Get Free Report) last issued 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 business had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. Equities analysts predict that argenex will post 3.13 EPS for the current fiscal year.

Institutional Investors 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 holdings in argenex by 3.5% in the first quarter. Greenleaf Trust now owns 624 shares of the company's stock valued at $369,000 after acquiring an additional 21 shares during the period. Rakuten Securities Inc. lifted its stake 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 purchasing an additional 22 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of 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 in the last quarter. Main Management ETF Advisors LLC boosted 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 valued at $808,000 after acquiring an additional 24 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of argenex by 0.6% during the 1st 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 last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

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.