Wedbush Issues Positive Forecast for argenex (NASDAQ:ARGX) Stock Price

Key Points

• Wedbush raised its price target for argenx (NASDAQ:ARGX) from $800 to $880, indicating a potential upside of 10.43% from the current stock price and maintaining an "outperform" rating.
• The stock has received positive ratings from multiple analysts, with a consensus rating of "Buy" and a price target average of $817.53.
• Argenx reported earnings of $3.74 per share for the last quarter, exceeding the consensus estimate, and is expected to post 3.13 EPS for the current fiscal year.

argenex (NASDAQ:ARGX - Get Free Report) had its price target raised by investment analysts at Wedbush from $800.00 to $880.00 in a report released on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's target price would indicate a potential upside of 10.43% from the company's current price.

ARGX has been the subject of several other research reports. Jefferies Financial Group set a $818.00 target price on shares of argenex and gave the company a "buy" rating in a report on Tuesday, August 26th. Guggenheim restated a "buy" rating and set a $1,070.00 price objective on shares of argenex in a report on Thursday, September 18th. Bank of America raised their price objective on shares of argenex from $880.00 to $887.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Stifel Nicolaus set a $882.00 price objective on shares of argenex in a report on Thursday, September 18th. Finally, Wall Street Zen upgraded shares of argenex from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $817.53.

argenex Trading Down 1.0%

Shares of ARGX stock opened at $796.92 on Monday. The firm has a market capitalization of $48.77 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 0.86 and a beta of 0.46. The firm has a fifty day simple moving average of $719.96 and a two-hundred day simple moving average of $628.00. argenex has a 12 month low of $510.05 and a 12 month high of $808.43.

argenex (NASDAQ:ARGX - Get Free Report) last posted its 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. The firm had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. On average, equities analysts predict that argenex will post 3.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rakuten Securities Inc. boosted its position in argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after purchasing an additional 22 shares during the period. WPG Advisers LLC bought a new position in shares of argenex in the first quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new position in shares of argenex in the first quarter valued at approximately $44,000. Brooklyn Investment Group boosted its position in shares of argenex by 102.7% in the first quarter. Brooklyn Investment Group now owns 75 shares of the company's stock valued at $44,000 after acquiring an additional 38 shares during the period. Finally, MAI Capital Management boosted its position in shares of argenex by 866.7% in the second quarter. MAI Capital Management now owns 87 shares of the company's stock valued at $48,000 after acquiring an additional 78 shares during the period. Institutional investors own 60.32% of the company's stock.

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.

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