argenex (NASDAQ:ARGX) Coverage Initiated by Analysts at Morgan Stanley

Equities researchers at Morgan Stanley initiated coverage on shares of argenex (NASDAQ:ARGXGet Free Report) in a research note issued to investors on Thursday. The brokerage set an “overweight” rating and a $700.00 price target on the stock. Morgan Stanley’s target price suggests a potential upside of 28.84% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird upgraded argenex from a “neutral” rating to an “outperform” rating and set a $680.00 price objective for the company in a report on Tuesday, May 13th. HC Wainwright restated a “buy” rating and set a $720.00 price objective on shares of argenex in a report on Tuesday. Baird R W upgraded argenex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Wedbush restated an “outperform” rating and set a $715.00 price objective on shares of argenex in a report on Tuesday, June 24th. Finally, JMP Securities set a $699.00 price objective on argenex in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, argenex presently has an average rating of “Buy” and an average target price of $728.06.

View Our Latest Stock Report on argenex

argenex Stock Performance

Shares of ARGX opened at $543.32 on Thursday. argenex has a 52-week low of $432.96 and a 52-week high of $678.21. The business’s 50 day moving average price is $575.98 and its two-hundred day moving average price is $604.57. The firm has a market cap of $33.18 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 0.98 and a beta of 0.37.

argenex (NASDAQ:ARGXGet Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.26. argenex had a return on equity of 16.15% and a net margin of 40.20%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. Research analysts predict that argenex will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

Several institutional investors have recently bought and sold shares of ARGX. GeoWealth Management LLC grew its holdings in argenex by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock worth $31,000 after buying an additional 18 shares in the last quarter. Rakuten Securities Inc. grew its stake in argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock valued at $36,000 after purchasing an additional 22 shares during the period. WPG Advisers LLC bought a new position in argenex in the 1st quarter valued at $37,000. FIL Ltd bought a new position in argenex in the 4th quarter valued at $38,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in argenex in the 4th quarter valued at $38,000. Institutional investors own 60.32% of the company’s stock.

About argenex

(Get Free Report)

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.

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