argenex (NASDAQ:ARGX) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial has initiated coverage on argenex (NASDAQ:ARGX) with a buy rating and a price target of $918.00, indicating a potential upside of 21.37% from the current price.
• Multiple analysts have recently provided updates on argenex, with Morgan Stanley raising their target from $700.00 to $766.00 and Wells Fargo increasing theirs from $741.00 to $756.00, both assigning overweight ratings.
• The stock currently holds an average rating of "Buy" from analysts, with a consensus target price of $784.32, reflecting positive market sentiment.

argenex (NASDAQ:ARGX - Get Free Report) had its target price upped by Truist Financial from $700.00 to $918.00 in a research note issued on Monday, Marketbeat.com reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective indicates a potential upside of 21.71% from the company's current price.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada initiated coverage on shares of argenex in a research note on Monday, August 25th. They issued an "outperform" rating and a $850.00 price objective for the company. HC Wainwright raised their target price on shares of argenex from $720.00 to $774.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wall Street Zen lowered shares of argenex from a "buy" rating to a "hold" rating in a report on Sunday. Citigroup reissued a "buy" rating on shares of argenex in a report on Wednesday, May 21st. Finally, Guggenheim raised their target price on shares of argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $784.32.

argenex Stock Down 1.2%

Shares of argenex stock opened at $754.25 on Monday. argenex has a twelve month low of $510.05 and a twelve month high of $779.03. The company has a 50-day simple moving average of $649.73 and a two-hundred day simple moving average of $606.77. The stock has a market capitalization of $46.16 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41.

argenex (NASDAQ:ARGX - Get Free Report) last issued 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 analysts' expectations of $776.82 million. On average, sell-side analysts anticipate that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenex

Several hedge funds and other institutional investors have recently made changes to their positions in ARGX. Rakuten Securities Inc. grew its holdings in argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after acquiring an additional 22 shares during the last quarter. WPG Advisers LLC bought a new stake in argenex during the 1st quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in argenex during the 4th quarter worth approximately $38,000. Golden State Wealth Management LLC bought a new stake in argenex during the 1st quarter worth approximately $44,000. Finally, Brooklyn Investment Group grew its holdings in argenex by 102.7% during the 1st quarter. Brooklyn Investment Group now owns 75 shares of the company's stock worth $44,000 after acquiring an additional 38 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

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.