JPMorgan Chase & Co. Boosts argenex (NASDAQ:ARGX) Price Target to $1,100.00

argenex (NASDAQ:ARGX) had its price objective lifted by analysts at JPMorgan Chase & Co. from $925.00 to $1,100.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 23.68% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Wall Street Zen raised argenex from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Wedbush upped their target price on argenex from $880.00 to $1,000.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a research report on Wednesday, October 8th. Wolfe Research reiterated a “peer perform” rating on shares of argenex in a research report on Monday, November 24th. Finally, Citigroup increased their price objective on shares of argenex from $1,041.00 to $1,124.00 and gave the company a “buy” rating in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $917.39.

argenex Stock Down 1.3%

Shares of ARGX opened at $889.41 on Monday. argenex has a 52-week low of $510.05 and a 52-week high of $934.62. The company has a 50-day simple moving average of $857.30 and a 200-day simple moving average of $711.79. The company has a market capitalization of $54.76 billion, a PE ratio of 38.19, a P/E/G ratio of 0.91 and a beta of 0.37.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of argenex by 12.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,732 shares of the company’s stock worth $2,801,000 after purchasing an additional 518 shares during the last quarter. Independent Advisor Alliance purchased a new position in argenex during the first quarter worth about $2,650,000. Eagle Global Advisors LLC boosted its stake in argenex by 7.3% in the 1st quarter. Eagle Global Advisors LLC now owns 5,900 shares of the company’s stock worth $3,492,000 after buying an additional 400 shares during the last quarter. AGF Management Ltd. purchased a new stake in argenex in the 1st quarter valued at about $10,748,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of argenex during the 1st quarter valued at about $1,637,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.