Guggenheim Forecasts Strong Price Appreciation for argenex (NASDAQ:ARGX) Stock

Key Points

• Guggenheim raised its price target on argenex to $1,135 (from $1,120) and keeps a "buy" rating, implying about a 44.93% upside from the current share price.
• Analysts overall remain positive with a consensus rating of "Moderate Buy" and an average target of $1,017.78 (18 Buy, 4 Hold, 2 Strong Buy among surveyed analysts).
• argenex recently missed quarterly estimates—EPS $5.52 vs. $5.79 expected and revenue $1.31B vs. $1.44B—but reported strong profitability (net margin 30.42%, ROE 38.51%); the stock trades near $783 with a ~$48.7B market cap.

argenex (NASDAQ:ARGX - Get Free Report) had its target price raised by equities researchers at Guggenheim from $1,120.00 to $1,135.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Guggenheim's target price points to a potential upside of 44.93% from the company's current price.

Other equities analysts have also issued reports about the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of argenex in a research report on Monday, April 20th. Wall Street Zen downgraded shares of argenex from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Royal Bank Of Canada decreased their target price on shares of argenex from $925.00 to $890.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. HC Wainwright lifted their price target on shares of argenex from $915.00 to $940.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Finally, Wells Fargo & Company increased their price target on argenex from $1,247.00 to $1,260.00 and gave the stock an "overweight" rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,017.78.

argenex Stock Down 0.5%

Shares of ARGX stock opened at $783.13 on Friday. The company has a market capitalization of $48.70 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 1.33 and a beta of 0.46. The firm has a 50 day moving average price of $755.88 and a two-hundred day moving average price of $817.54. argenex has a 12-month low of $510.05 and a 12-month high of $934.62.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $5.52 EPS for the quarter, missing analysts' consensus estimates of $5.79 by ($0.27). The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.44 billion. argenex had a net margin of 30.42% and a return on equity of 38.51%. As a group, research analysts expect that argenex will post 24.63 EPS for the current year.

Institutional Investors Weigh In On argenex

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Abound Wealth Management lifted its stake in argenex by 3,200.0% in the 4th quarter. Abound Wealth Management now owns 33 shares of the company's stock valued at $28,000 after purchasing an additional 32 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of argenex during the 4th quarter valued at $28,000. Whipplewood Advisors LLC acquired a new stake in shares of argenex during the 1st quarter valued at $28,000. Ameriflex Group Inc. bought a new stake in argenex during the 3rd quarter worth $32,000. Finally, Sunbelt Securities Inc. acquired a new position in argenex in the 3rd quarter worth about $36,000. 60.32% of the stock is owned by institutional investors.

argenex Company Profile

argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

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