argenex (NASDAQ:ARGX) Price Target Raised to $1,095.00

argenex (NASDAQ:ARGX) had its target price upped by Truist Financial from $1,030.00 to $1,095.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently issued reports on ARGX. Morgan Stanley lifted their price objective on shares of argenex from $1,200.00 to $1,230.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wall Street Zen cut argenex from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Oppenheimer lifted their price target on argenex from $1,014.00 to $1,037.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Wedbush upped their price objective on argenex from $1,050.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Guggenheim started coverage on argenex in a report on Tuesday, August 4th. They issued a “buy” rating and a $1,185.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,118.28.

argenex Stock Up 0.5%

Shares of NASDAQ:ARGX opened at $1,038.12 on Tuesday. The firm’s 50 day moving average price is $892.22 and its 200 day moving average price is $825.72. The stock has a market cap of $64.94 billion, a price-to-earnings ratio of 39.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.46. argenex has a fifty-two week low of $658.60 and a fifty-two week high of $1,039.30.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping the consensus estimate of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. On average, equities analysts anticipate that argenex will post 28.47 EPS for the current year.

Institutional Trading of argenex

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in argenex by 65.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $2,713,000 after buying an additional 1,280 shares during the last quarter. M&T Bank Corp increased its position in argenex by 34.8% in the fourth quarter. M&T Bank Corp now owns 4,980 shares of the company’s stock worth $4,188,000 after buying an additional 1,286 shares during the period. UBS Group AG lifted its stake in argenex by 12.3% in the fourth quarter. UBS Group AG now owns 60,384 shares of the company’s stock valued at $50,780,000 after buying an additional 6,591 shares during the last quarter. Peregrine Capital Management LLC bought a new stake in argenex in the second quarter valued at $27,584,000. Finally, Bessemer Group Inc. boosted its holdings in shares of argenex by 2.7% during the first quarter. Bessemer Group Inc. now owns 64,251 shares of the company’s stock valued at $46,920,000 after acquiring an additional 1,714 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex News Roundup

Here are the key news stories impacting argenex this week:

• Positive Sentiment: HC Wainwright raised its price target to $1,202 and lifted long-term earnings forecasts. The firm increased its FY2027 EPS estimate to $34.82 from $34.38, FY2028 to $44.72 from $43.50, FY2029 to $56.38 from $53.47, and FY2030 to $76.63 from $64.39. HC Wainwright maintained its “Buy” rating, signaling confidence in argenx’s long-term growth. HC Wainwright Boosts argenx Price Target
• Positive Sentiment: Other analysts also increased their targets. Morgan Stanley raised its target to $1,230, Wedbush lifted its target to $1,150, and Citi reiterated a “Buy” rating. Citizens JMP and Piper Sandler also forecast substantial appreciation potential, reinforcing the positive analyst sentiment. Wedbush Raises argenx Price Target Morgan Stanley Raises argenx Price Target argenx Receives a Buy from Citi
• Positive Sentiment: Oppenheimer said recent myositis data helps derisk the opportunity for Vyvgart. The assessment supports investor expectations that argenx may expand Vyvgart’s commercial reach and sustain revenue growth. argenx Myositis Data Derisk Vyvgart Opportunity
• Neutral Sentiment: The stock’s valuation is elevated, with a price-to-earnings ratio near 40, so continued gains depend on argenx converting its clinical pipeline and Vyvgart opportunity into the strong earnings growth analysts now project.

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.