Piper Sandler Forecasts Strong Price Appreciation for argenex (NASDAQ:ARGX) Stock

argenex (NASDAQ:ARGX) had its price target raised by analysts at Piper Sandler from $820.00 to $930.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 11.73% from the stock’s previous close.

Several other brokerages have also recently commented on ARGX. Wedbush increased their price target on argenex from $800.00 to $880.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. upped their price objective on argenex from $775.00 to $830.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Guggenheim restated a “buy” rating and issued a $1,070.00 price objective on shares of argenex in a research note on Thursday, September 18th. Evercore ISI upped their price objective on argenex from $775.00 to $910.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, TD Cowen upped their price objective on argenex from $800.00 to $1,146.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $864.68.

argenex Stock Performance

Shares of NASDAQ ARGX opened at $832.35 on Tuesday. The stock has a 50 day moving average price of $777.07 and a 200 day moving average price of $659.34. argenex has a 52 week low of $510.05 and a 52 week high of $855.46. The stock has a market capitalization of $51.25 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45.

Hedge Funds Weigh In On argenex

A number of large investors have recently made changes to their positions in ARGX. WPG Advisers LLC bought a new position in shares of argenex during the first quarter worth approximately $37,000. Brooklyn Investment Group grew its position in argenex by 102.7% during the first quarter. Brooklyn Investment Group now owns 75 shares of the company’s stock worth $44,000 after buying an additional 38 shares in the last quarter. Bessemer Group Inc. grew its position in argenex by 276.5% during the third quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after buying an additional 47 shares in the last quarter. MAI Capital Management grew its position in argenex by 866.7% during the second quarter. MAI Capital Management now owns 87 shares of the company’s stock worth $48,000 after buying an additional 78 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in argenex during the third quarter worth approximately $50,000. Institutional investors own 60.32% of the company’s stock.

argenex Company Profile

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.