argenex (NASDAQ:ARGX – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.
ARGX has been the topic of a number of other reports. Robert W. Baird raised their target price on argenex from $867.00 to $932.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Citizens Jmp upped their price target on shares of argenex from $932.00 to $1,200.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 18th. Wedbush boosted their target price on shares of argenex from $1,050.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Truist Financial upped their target price on shares of argenex from $1,030.00 to $1,095.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Finally, HC Wainwright raised their price target on shares of argenex from $940.00 to $1,202.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,157.50.
Read Our Latest Research Report on ARGX
argenex Price Performance
argenex (NASDAQ:ARGX – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Analysts expect that argenex will post 29.04 EPS for the current fiscal year.
Hedge Funds Weigh In On argenex
Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in shares of argenex by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock worth $1,847,592,000 after buying an additional 83,568 shares in the last quarter. Wellington Management Group LLP boosted its stake in argenex by 80.1% during the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after buying an additional 324,653 shares in the last quarter. Morgan Stanley grew its holdings in argenex by 19.2% during the fourth quarter. Morgan Stanley now owns 518,852 shares of the company’s stock worth $436,331,000 after acquiring an additional 83,746 shares during the period. Invesco Ltd. grew its holdings in argenex by 390.4% during the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock worth $350,178,000 after acquiring an additional 331,489 shares during the period. Finally, Sands Capital Management LLC raised its position in argenex by 2,046.6% in the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after acquiring an additional 340,245 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.
argenex Company Profile
argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.
The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.
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