Wedbush Reaffirms "Outperform" Rating for argenex (NASDAQ:ARGX)

Key Points

• Wedbush has reaffirmed an "outperform" rating for argenex (NASDAQ:ARGX), setting a target price of $800.00, indicating a potential upside of 15.44% from the stock's previous close.
• JPMorgan Chase & Co. raised their target price on argenex shares from $775.00 to $830.00, while Guggenheim set a target price of $1,070.00, reflecting strong investor confidence in the company's performance.
• Argentex recently reported $3.74 earnings per share for the quarter, significantly surpassing estimates, alongside revenue of $866.79 million, indicating robust financial health.

argenex (NASDAQ:ARGX - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Wedbush in a research note issued on Monday,RTT News reports. They currently have a $800.00 target price on the stock. Wedbush's target price would indicate a potential upside of 15.44% from the stock's previous close.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. HC Wainwright raised their target price on shares of argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Guggenheim raised their target price on shares of argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft upgraded shares of argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Finally, JMP Securities set a $699.00 target price on shares of argenex in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $757.88.

argenex Price Performance

ARGX stock traded up $33.01 on Monday, reaching $693.01. 197,199 shares of the company were exchanged, compared to its average volume of 372,944. argenex has a 12 month low of $510.05 and a 12 month high of $702.24. The stock's fifty day moving average price is $595.18 and its 200 day moving average price is $597.16. The firm has a market capitalization of $42.41 billion, a PE ratio of 35.57, a PEG ratio of 0.76 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.90. The business had revenue of $866.79 million for 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%. As a group, research analysts expect that argenex will post 3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On argenex

A number of institutional investors and hedge funds have recently modified their holdings of ARGX. Point72 Europe London LLP acquired a new position in shares of argenex during the fourth quarter worth approximately $5,839,000. Ameriprise Financial Inc. grew its stake in shares of argenex by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after acquiring an additional 639 shares during the period. Sowell Financial Services LLC bought a new position in shares of argenex during the 1st quarter worth $332,000. Cetera Investment Advisers grew its stake in shares of argenex by 33.1% during the 1st quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock worth $3,250,000 after acquiring an additional 1,364 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in argenex by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock worth $15,332,000 after purchasing an additional 4,445 shares during the period. 60.32% of the stock is currently owned by institutional investors.

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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