argenex (NASDAQ:ARGX) Stock Gets Price Target Reduction from Robert W. Baird

argenex (NASDAQ:ARGX) had its price target lowered by Robert W. Baird from $932.00 to $823.00 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Bank of America lifted their price target 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 lowered shares of argenex from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Citigroup upped their price objective on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Morgan Stanley increased their price objective on shares of argenex from $1,230.00 to $1,250.00 and gave the company an “overweight” rating in a report on Monday, August 31st. Finally, Wells Fargo & Company increased their price objective on shares of argenex from $1,350.00 to $1,415.00 and gave the company an “overweight” rating in a report on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, argenex currently has an average rating of “Moderate Buy” and a consensus price target of $1,152.56.

argenex Stock Performance

Shares of ARGX opened at $825.03 on Friday. argenex has a 12 month low of $661.85 and a 12 month high of $1,072.75. The stock’s 50 day moving average is $959.93 and its two-hundred day moving average is $877.49. The firm has a market cap of $51.61 billion, a P/E ratio of 31.68, a PEG ratio of 0.86 and a beta of 0.44.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. Equities research analysts forecast that argenex will post 28.83 EPS for the current year.

Hedge Funds Weigh In On argenex

A number of hedge funds have recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in shares of argenex in the first quarter worth about $28,000. Eastern Bank acquired a new position in argenex during the second quarter worth about $32,000. Axiom Investment Management LLC purchased a new stake in argenex during the 1st quarter valued at about $50,000. WPG Advisers LLC grew its stake in argenex by 17.8% during the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after acquiring an additional 13 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in argenex by 616.7% during the 1st quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock valued at $126,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex News Summary

Here are the key news stories impacting argenex this week:

• Positive Sentiment: argenx reported that its Phase 2 trial of FB102 in celiac disease met its primary endpoint, with a statistically significant improvement in the ratio of villous height to crypt depth. The company plans to advance the CD122 inhibitor into Phase 3 development, adding potential value to its pipeline. argenx Announces Positive Topline Results from Phase 2 Study of FB102 in Celiac Disease
• Positive Sentiment: The celiac results provide the first clinical validation of FB102 following argenx’s acquisition of Forte Biosciences and could support a new growth opportunity beyond its existing Vyvgart franchise. argenx Meets Primary Endpoint in Phase II Celiac Disease Study
• Neutral Sentiment: Reported short interest was listed at zero shares as of October 9, implying no measurable short-selling pressure based on the supplied data. However, the report’s wording that short interest “increased” conflicts with the zero-share figure, reducing its usefulness as a trading signal.
• Negative Sentiment: argenx discontinued the Phase 3 UNITY study of subcutaneous efgartigimod in Sjögren’s disease after an independent monitoring committee determined the trial was futile at interim analysis. The failure removes a major potential indication for Vyvgart and triggered a sharp selloff. Argenx discontinues Vyvgart study in Sjögren’s disease, shares tumble
• Negative Sentiment: Robert W. Baird lowered its price target to $823 from $932 and retained a neutral rating, reflecting increased uncertainty after the trial setback. argenx price target update
• Negative Sentiment: A shareholder-investigation notice was announced following the trial discontinuation, adding a potential legal and headline risk, although no claims or outcome have been established. argenx Investigation Notice

About argenex

argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx’s leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).