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

argenex (NASDAQ:ARGX) had its price target increased by research analysts at Citigroup from $1,152.00 to $1,182.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 38.78% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Glj Research raised shares of argenex to a “strong-buy” rating in a report on Friday, April 3rd. Wedbush restated an “outperform” rating and set a $1,000.00 target price on shares of argenex in a report on Thursday, June 11th. Bank of America increased their target price on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded argenex from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $940.00 price target on shares of argenex in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,042.67.

argenex Price Performance

ARGX stock opened at $851.72 on Tuesday. The business has a 50-day moving average price of $863.85 and a 200 day moving average price of $813.80. The company has a market capitalization of $53.28 billion, a P/E ratio of 37.92, a PEG ratio of 1.08 and a beta of 0.45. argenex has a 1-year low of $566.42 and a 1-year high of $953.58.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. The company had revenue of $1.31 billion for the quarter. On average, analysts anticipate that argenex will post 26.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in argenex by 32.1% in the first quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock worth $297,000 after purchasing an additional 122 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of argenex by 5,962.5% during the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock worth $862,000 after purchasing an additional 1,431 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of argenex by 22.3% during the 1st quarter. Focus Partners Wealth now owns 400 shares of the company’s stock valued at $237,000 after purchasing an additional 73 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of argenex by 550.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock valued at $69,000 after purchasing an additional 99 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of argenex by 60.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company’s stock worth $73,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

argenex Company Profile

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.