argenex (NASDAQ:ARGX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

argenex (NASDAQ:ARGX) had its target price increased by stock analysts at Morgan Stanley from $1,070.00 to $1,110.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 23.17% from the stock’s previous close.

ARGX has been the topic of a number of other reports. Royal Bank Of Canada raised their price target on shares of argenex from $850.00 to $860.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Citigroup lifted their price target on argenex from $1,041.00 to $1,124.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Wall Street Zen raised argenex from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Jefferies Financial Group set a $818.00 target price on shares of argenex and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of argenex from $830.00 to $925.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, argenex has a consensus rating of “Moderate Buy” and an average target price of $907.67.

argenex Stock Performance

argenex stock opened at $901.17 on Thursday. The stock has a market capitalization of $55.49 billion, a P/E ratio of 38.69, a P/E/G ratio of 0.92 and a beta of 0.37. The company’s fifty day moving average price is $850.63 and its 200 day moving average price is $705.66. argenex has a 1 year low of $510.05 and a 1 year high of $934.62.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.37 by $0.03. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. Sell-side analysts predict that argenex will post 3.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new stake in shares of argenex in the third quarter valued at about $32,000. Sunbelt Securities Inc. acquired a new position in argenex in the 3rd quarter valued at about $36,000. WPG Advisers LLC acquired a new position in argenex in the 1st quarter valued at about $37,000. Bessemer Group Inc. grew its stake in shares of argenex by 276.5% in the 3rd quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock valued at $47,000 after buying an additional 47 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of argenex during the 3rd quarter worth approximately $50,000. Hedge funds and other 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.