argenex (NASDAQ:ARGX) Stock Price Expected to Rise, TD Cowen Analyst Says

argenex (NASDAQ:ARGX) had its price target boosted by analysts at TD Cowen from $800.00 to $1,146.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price suggests a potential upside of 40.01% from the stock’s current price.

ARGX has been the subject of several other reports. HC Wainwright lifted their target price on shares of argenex from $774.00 to $915.00 and gave the company a “buy” rating in a report on Friday. 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 reiterated a “buy” rating and set a $1,070.00 target price on shares of argenex in a report on Thursday, September 18th. Stifel Nicolaus set a $882.00 target price 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $851.70.

argenex Price Performance

Shares of ARGX opened at $818.50 on Friday. argenex has a one year low of $510.05 and a one year high of $855.46. The company has a 50-day simple moving average of $769.14 and a two-hundred day simple moving average of $654.37. The firm has a market capitalization of $50.40 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 0.89 and a beta of 0.46.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, July 31st. The company reported $3.74 EPS for the quarter, topping the consensus estimate of $2.84 by $0.90. argenex had a net margin of 41.58% and a return on equity of 22.33%. The business had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. Analysts expect that argenex will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

A number of large investors have recently added to or reduced their stakes in ARGX. Cambridge Investment Research Advisors Inc. bought a new stake in argenex in the 1st quarter worth approximately $583,000. Calamos Advisors LLC bought a new stake in argenex in the 1st quarter worth approximately $1,563,000. GF Fund Management CO. LTD. grew its position in argenex by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 826 shares of the company’s stock worth $489,000 after purchasing an additional 149 shares during the period. Bank of New York Mellon Corp grew its position in argenex by 124.5% in the 1st quarter. Bank of New York Mellon Corp now owns 14,283 shares of the company’s stock worth $8,454,000 after purchasing an additional 7,921 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in argenex by 5.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 79,468 shares of the company’s stock worth $47,034,000 after purchasing an additional 4,431 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.