argenex (NASDAQ:ARGX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

argenex (NASDAQ:ARGX) had its price objective upped by Wells Fargo & Company from $1,095.00 to $1,316.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 49.90% from the company’s previous close.

ARGX has been the subject of several other research reports. Piper Sandler boosted their price objective on argenex from $820.00 to $930.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Truist Financial lifted their target price on shares of argenex from $700.00 to $918.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Zacks Research lowered shares of argenex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, argenex presently has an average rating of “Moderate Buy” and an average price target of $968.83.

argenex Stock Performance

argenex stock opened at $877.94 on Thursday. argenex has a fifty-two week low of $510.05 and a fifty-two week high of $934.62. The stock has a market cap of $54.05 billion, a P/E ratio of 37.70, a PEG ratio of 0.89 and a beta of 0.37. The firm’s fifty day moving average price is $863.28 and its 200-day moving average price is $716.27.

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 company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. argenex had a return on equity of 29.78% and a net margin of 41.58%. Sell-side analysts predict that argenex will post 3.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its stake in shares of argenex by 104.0% in the 3rd quarter. Allworth Financial LP now owns 102 shares of the company’s stock valued at $75,000 after acquiring an additional 52 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in argenex in the 3rd quarter worth approximately $549,000. Sunbelt Securities Inc. purchased a new position in argenex in the 3rd quarter worth approximately $36,000. Coldstream Capital Management Inc. lifted its position in argenex by 58.9% in the third quarter. Coldstream Capital Management Inc. now owns 604 shares of the company’s stock valued at $445,000 after purchasing an additional 224 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in argenex by 5,725.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 233 shares of the company’s stock valued at $172,000 after purchasing an additional 229 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

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.