Wells Fargo & Company Raises argenex (NASDAQ:ARGX) Price Target to $1,317.00

argenex (NASDAQ:ARGX) had its target price upped by investment analysts at Wells Fargo & Company from $1,264.00 to $1,317.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 61.32% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of argenex from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Royal Bank Of Canada upped their price target on shares of argenex from $860.00 to $925.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Evercore ISI lifted their price objective on argenex from $775.00 to $910.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their target price on argenex from $925.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Finally, TD Cowen raised their price target on argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, argenex has an average rating of “Moderate Buy” and a consensus price target of $986.78.

argenex Trading Up 0.8%

Shares of argenex stock opened at $816.37 on Tuesday. The firm has a market capitalization of $50.52 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 0.52 and a beta of 0.38. argenex has a 12 month low of $510.05 and a 12 month high of $934.62. The business’s 50-day moving average price is $862.63 and its 200-day moving average price is $769.01.

argenex (NASDAQ:ARGX) last issued its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.03. The business 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%. As a group, analysts predict that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenex

Several institutional investors and hedge funds have recently bought and sold shares of ARGX. Wellington Management Group LLP boosted its position in shares of argenex by 80.1% during the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after purchasing an additional 324,653 shares in the last quarter. Two Sigma Investments LP lifted its position in argenex by 570.3% during the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after buying an additional 250,278 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings 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 buying an additional 158,476 shares in the last quarter. Franklin Resources Inc. grew its position in shares of argenex by 103.9% in the 2nd quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock worth $154,233,000 after buying an additional 142,606 shares during the period. Finally, Woodline Partners LP grew its position in shares of argenex by 320.8% in the 3rd quarter. Woodline Partners LP now owns 169,476 shares of the company’s stock worth $124,999,000 after buying an additional 129,205 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.