Weiss Ratings Reaffirms Hold (C) Rating for argenex (NASDAQ:ARGX)

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for argenex (NASDAQ:ARGX), indicating a cautious stance on the stock.
• Morgan Stanley has increased its target price for argenex from $766.00 to $1,040.00, giving the stock an "overweight" rating, while three other firms have also assigned varying target prices and ratings.
• As of the last trading session, argenex's shares reached $798.94, with a significant **market capitalization** of approximately $48.90 billion and consistently strong earnings performance.

argenex (NASDAQ:ARGX - Get Free Report)'s stock had its "hold (c)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued reports about the stock. Morgan Stanley lifted their target price on shares of argenex from $766.00 to $1,040.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 1st. Stifel Nicolaus set a $882.00 target price on argenex in a research report on Thursday, September 18th. Royal Bank Of Canada assumed coverage on argenex in a research report on Monday, August 25th. They issued an "outperform" rating and a $850.00 target price on the stock. Piper Sandler boosted their price target on argenex from $750.00 to $820.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. Finally, Jefferies Financial Group set a $818.00 target price on argenex and gave the stock a "buy" rating in a report on Tuesday, August 26th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $802.90.

argenex Trading Up 0.2%

Shares of ARGX stock traded up $1.59 during trading hours on Wednesday, reaching $798.94. 312,405 shares of the company's stock were exchanged, compared to its average volume of 374,206. argenex has a fifty-two week low of $510.05 and a fifty-two week high of $807.91. The stock's 50 day moving average is $710.80 and its 200-day moving average is $623.56. The company has a market cap of $48.90 billion, a price-to-earnings ratio of 40.97, a P/E/G ratio of 0.86 and a beta of 0.46.

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, beating the consensus estimate of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%.The company had revenue of $866.79 million for the quarter, compared to analyst estimates of $776.82 million. Equities analysts anticipate that argenex will post 3.13 EPS for the current year.

Institutional Trading of argenex

Several institutional investors have recently modified their holdings of the stock. Park Avenue Securities LLC boosted its stake in argenex by 6.4% during the 1st quarter. Park Avenue Securities LLC now owns 1,804 shares of the company's stock worth $1,068,000 after purchasing an additional 109 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in argenex by 13.1% during the first quarter. Handelsbanken Fonder AB now owns 38,050 shares of the company's stock worth $22,520,000 after buying an additional 4,403 shares during the last quarter. Assenagon Asset Management S.A. increased its position in argenex by 215.8% during the first quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company's stock worth $65,336,000 after purchasing an additional 75,435 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in argenex by 41.6% in the first quarter. Janney Montgomery Scott LLC now owns 1,141 shares of the company's stock valued at $675,000 after acquiring an additional 335 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new position in argenex in the first quarter valued at approximately $332,000. Institutional investors and hedge funds 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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