JPMorgan Chase & Co. Increases argenex (NASDAQ:ARGX) Price Target to $925.00
JPMorgan Chase & Co. has raised its price target for argenex (NASDAQ:ARGX) from $830.00 to $925.00, maintaining an "overweight" rating. This new target suggests an 8.23% potential upside from the previous close. Other analysts have varied opinions, with Deutsche Bank downgrading to "hold" and Morgan Stanley increasing their target to $1,040.00. Currently, argenex's average rating is "Moderate Buy" with a target of $869.68. The stock traded up 0.4% to $854.65, with a market cap of $52.62 billion and a recent EPS of $4.40, exceeding estimates.
argenex (NASDAQ:ARGX - Get Free Report) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $830.00 to $925.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 8.23% from the company's previous close.
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Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft cut argenex from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Wedbush boosted their price target on shares of argenex from $800.00 to $880.00 and gave the stock an "outperform" rating in a research note on Monday, October 13th. Royal Bank Of Canada upped their price objective on shares of argenex from $850.00 to $860.00 and gave the company an "outperform" rating in a research note on Friday, October 31st. Weiss Ratings restated a "hold (c)" rating on shares of argenex in a research report on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on shares of argenex from $766.00 to $1,040.00 and gave the company an "overweight" rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, argenex presently has an average rating of "Moderate Buy" and an average price target of $869.68.
View Our Latest Analysis on argenex
argenex Trading Up 0.4%
- 5 medical stocks growing earnings by triple digits
Shares of NASDAQ:ARGX traded up $3.63 on Friday, reaching $854.65. 268,598 shares of the company's stock were exchanged, compared to its average volume of 372,916. The company has a market capitalization of $52.62 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 0.86 and a beta of 0.45. The company has a fifty day moving average of $780.01 and a 200-day moving average of $660.67. argenex has a twelve month low of $510.05 and a twelve month high of $857.48.
argenex (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $4.40 EPS for the quarter, beating the consensus estimate of $4.37 by $0.03. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. argenex had a return on equity of 29.78% and a net margin of 41.58%. As a group, equities research analysts forecast that argenex will post 3.13 EPS for the current fiscal year.
Institutional Trading of argenex
- Argenx's 28% Surge & Promising Product Propel Investor Confidence
A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in argenex by 316.9% during the 1st quarter. Millennium Management LLC now owns 268,604 shares of the company's stock valued at $158,977,000 after buying an additional 204,180 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in argenex by 114.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company's stock valued at $163,775,000 after purchasing an additional 158,476 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company's stock valued at $154,233,000 after acquiring an additional 142,606 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in argenex by 1,203.4% in the 1st quarter. BNP Paribas Financial Markets now owns 133,359 shares of the company's stock valued at $78,931,000 after acquiring an additional 123,127 shares during the last quarter. Finally, Braidwell LP raised its holdings in shares of argenex by 99.2% during the 1st quarter. Braidwell LP now owns 160,849 shares of the company's stock worth $95,201,000 after acquiring an additional 80,083 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.
argenex Company Profile
(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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