argenex (NASDAQ:ARGX) Price Target Raised to $1,037.00

argenex (NASDAQ:ARGX) had its target price increased by Oppenheimer from $1,014.00 to $1,037.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 13.55% from the company’s current price.

ARGX has been the topic of several other reports. Wells Fargo & Company upped their target price on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Guggenheim boosted their price target on shares of argenex from $1,135.00 to $1,185.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America upped their price objective on shares of argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded shares of argenex from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 6th. Finally, Citigroup lifted their target price on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,050.50.

argenex Stock Down 1.2%

Shares of ARGX traded down $11.38 during mid-day trading on Friday, hitting $913.22. 242,125 shares of the company’s stock were exchanged, compared to its average volume of 353,985. argenex has a 52 week low of $587.37 and a 52 week high of $953.58. The stock’s 50-day simple moving average is $865.90 and its 200-day simple moving average is $814.39. The firm has a market cap of $57.13 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 1.05 and a beta of 0.45.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. argenex had a net margin of 31.31% and a return on equity of 44.37%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.45 billion. Analysts forecast that argenex will post 26.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenex

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new position in argenex in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC bought a new stake in shares of argenex during the first quarter valued at approximately $28,000. Eastern Bank bought a new stake in shares of argenex during the second quarter valued at approximately $32,000. Sunbelt Securities Inc. acquired a new position in shares of argenex during the third quarter worth approximately $36,000. Finally, Axiom Investment Management LLC acquired a new position in shares of argenex during the first quarter worth approximately $50,000. Institutional investors own 60.32% of the company’s stock.

Key Stories Impacting argenex

Here are the key news stories impacting argenex this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on argenx to $1,025 from $945 and reiterated an outperform rating, signaling confidence in further upside. Benzinga report
• Positive Sentiment: Guggenheim lifted its price target to $1,185 from $1,135 and kept a buy rating, reflecting a bullish view on the company’s growth outlook. Benzinga report
• Positive Sentiment: argenx reported strong Q2 results, with EPS of $7.32 beating estimates of $5.86 and revenue of $1.54 billion topping expectations, reinforcing the company’s fundamental momentum. Earnings report
• Positive Sentiment: Vyvgart sales jumped sharply in the second quarter, with reports highlighting about 60% growth year over year, suggesting continued demand for the company’s main autoimmune franchise. Reuters article
• Positive Sentiment: Analysts and commentary pointed to surging profitability, strong cash generation, and a well-funded pipeline, with upcoming clinical catalysts adding to the long-term growth story. Seeking Alpha article
• Neutral Sentiment: Citizens JMP trimmed its price target slightly to $932 from $944 while maintaining a market outperform rating, which is still broadly supportive of the stock. Benzinga report

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.