argenex SE (NASDAQ:ARGX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of argenex SE (NASDAQ:ARGX) have earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $907.6667.

ARGX has been the subject of several recent analyst reports. Guggenheim restated a “buy” rating and issued a $1,070.00 price target on shares of argenex in a research note on Thursday, September 18th. HC Wainwright lifted their price objective on argenex from $774.00 to $915.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wolfe Research restated a “peer perform” rating on shares of argenex in a research note on Monday, November 24th. Morgan Stanley raised their price target on shares of argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Royal Bank Of Canada boosted their price objective on shares of argenex from $850.00 to $860.00 and gave the company an “outperform” rating in a report on Friday, October 31st.

Hedge Funds Weigh In On argenex

Several hedge funds and other institutional investors have recently modified their holdings of ARGX. Capital World Investors boosted its stake in shares of argenex by 0.4% in the 3rd quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock worth $1,445,113,000 after buying an additional 8,422 shares during the last quarter. Wellington Management Group LLP lifted its holdings in argenex by 80.1% in the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after acquiring an additional 324,653 shares during the period. Bank of America Corp DE boosted its position in argenex by 1.9% in the third quarter. Bank of America Corp DE now owns 342,379 shares of the company’s stock worth $252,525,000 after purchasing an additional 6,259 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of argenex by 114.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after purchasing an additional 158,476 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of argenex by 570.3% during the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after purchasing an additional 250,278 shares during the period. 60.32% of the stock is owned by institutional investors.

argenex Stock Performance

Shares of NASDAQ ARGX opened at $901.17 on Monday. The firm’s 50 day moving average price is $850.63 and its 200-day moving average price is $707.41. argenex has a 52-week low of $510.05 and a 52-week high of $934.62. The company has a market cap of $55.49 billion, a PE ratio of 38.69, a P/E/G ratio of 0.91 and a beta of 0.36.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. On average, analysts forecast that argenex will post 3.13 earnings per share for the current fiscal year.

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.