argenex (NASDAQ:ARGX) Earns "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 restated their buy rating on shares of argenex (NASDAQ:ARGX - Free Report) in a report published on Thursday morning,Benzinga reports. The firm currently has a $1,070.00 price objective on the stock.

ARGX has been the topic of several other research reports. Piper Sandler boosted their price objective on argenex from $750.00 to $820.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. HC Wainwright increased their price objective on argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a report on Friday, August 1st. JPMorgan Chase & Co. increased their price objective on argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Citigroup reissued a "buy" rating on shares of argenex in a report on Wednesday, May 21st. Finally, Wells Fargo & Company boosted their price objective on argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $789.20.

argenex Trading Up 0.7%

ARGX stock traded up $4.99 during trading on Thursday, hitting $736.76. The company had a trading volume of 730,390 shares, compared to its average volume of 367,879. The firm 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. The business has a 50 day moving average of $668.71 and a 200 day moving average of $610.94. argenex has a fifty-two week low of $510.05 and a fifty-two week high of $779.03.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share 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 during the quarter, compared to the consensus estimate of $776.82 million. As a group, equities analysts predict that argenex will post 3.13 EPS for the current year.

Institutional Investors Weigh In On argenex

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

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.