argenex SE (NASDAQ:ARGX) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Of 30 analysts covering argenx, 23 recommend buying, six rate it a hold, and one gives a strong-buy rating. The average 12-month price target is $1,145.
• Recent target revisions were mixed: Oppenheimer and Citigroup lowered their targets, while HC Wainwright and Truist Financial raised theirs; Goldman Sachs reaffirmed its buy rating.
• argenx exceeded quarterly earnings expectations: The company reported $7.80 in EPS versus the $7.44 consensus and generated $1.75 billion in revenue. Institutional investors own 60.32% of the stock.

argenex SE (NASDAQ:ARGX - Get Free Report) has received an average rating of "Moderate Buy" from the thirty ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $1,145.00.

A number of research firms recently weighed in on ARGX. Oppenheimer lowered their target price on shares of argenex from $1,100.00 to $1,038.00 and set an "outperform" rating on the stock in a research note on Monday, October 12th. Citigroup cut their target price on argenex from $1,301.00 to $1,232.00 and set a "buy" rating for the company in a research report on Tuesday. HC Wainwright lifted their target price on argenex from $940.00 to $1,202.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. The Goldman Sachs Group reissued a "buy" rating on shares of argenex in a report on Friday, September 25th. Finally, Truist Financial boosted their target price on shares of argenex from $1,030.00 to $1,095.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th.

argenex Stock Performance

NASDAQ:ARGX opened at $891.76 on Thursday. argenex has a 52-week low of $661.85 and a 52-week high of $1,072.75. The firm has a market capitalization of $56.08 billion, a PE ratio of 31.12, a P/E/G ratio of 0.89 and a beta of 0.44. The stock has a 50-day simple moving average of $949.21 and a two-hundred day simple moving average of $853.78.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data on Friday, October 23rd. The company reported $7.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.44 by $0.36. The company had revenue of $1.75 billion during the quarter. argenex had a return on equity of 47.70% and a net margin of 31.66%. Equities analysts forecast that argenex will post 26.10 earnings per share for the current fiscal year.

Institutional Trading of argenex

Hedge funds have recently made changes to their positions in the business. Whipplewood Advisors LLC bought a new stake in shares of argenex during the first quarter valued at approximately $28,000. Eastern Bank bought a new position in shares of argenex during the second quarter valued at approximately $32,000. Axiom Investment Management LLC bought a new position in shares of argenex during the first quarter valued at approximately $50,000. WPG Advisers LLC boosted its stake in shares of argenex by 17.8% during the first quarter. WPG Advisers LLC now owns 86 shares of the company's stock valued at $63,000 after purchasing an additional 13 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in argenex by 19.1% during the third quarter. Mather Group LLC. now owns 81 shares of the company's stock valued at $78,000 after buying an additional 13 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Company Profile

argenx SE NASDAQ: ARGX is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company uses its antibody engineering capabilities to discover and advance medicines designed to target disease-causing immune mechanisms.

argenx's lead product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce levels of disease-causing immunoglobulin G antibodies. VYVGART is approved in several markets for the treatment of generalized myasthenia gravis.

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