argenex (NASDAQ:ARGX) Price Target Raised to $1,200.00

argenex (NASDAQ:ARGX) had its target price raised by investment analysts at Citizens Jmp from $932.00 to $1,200.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s target price points to a potential upside of 21.48% from the company’s current price.

A number of other equities research analysts also recently issued reports on ARGX. Weiss Ratings downgraded shares of argenex from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Piper Sandler boosted their price target on shares of argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley increased their price objective on argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Royal Bank Of Canada boosted their target price on argenex from $945.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Wedbush upped their target price on argenex from $1,000.00 to $1,050.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, argenex presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,107.72.

argenex Trading Up 16.0%

Shares of ARGX stock opened at $987.84 on Tuesday. The company has a market capitalization of $61.80 billion, a price-to-earnings ratio of 37.94, a P/E/G ratio of 1.05 and a beta of 0.46. argenex has a 1-year low of $650.01 and a 1-year high of $1,002.16. The stock’s fifty day simple moving average is $883.84 and its 200-day simple moving average is $821.99.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. On average, sell-side analysts predict that argenex will post 28.77 EPS for the current year.

Hedge Funds Weigh In On argenex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Whipplewood Advisors LLC acquired a new stake in shares of argenex in the first quarter valued at about $28,000. Eastern Bank acquired a new stake in argenex during the second quarter worth about $32,000. Sunbelt Securities Inc. acquired a new position in argenex in the 3rd quarter valued at approximately $36,000. Axiom Investment Management LLC acquired a new stake in shares of argenex during the 1st quarter worth approximately $50,000. Finally, WPG Advisers LLC lifted its holdings in shares of argenex by 17.8% during the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

Key Headlines Impacting argenex

Here are the key news stories impacting argenex this week:

• Positive Sentiment: ALKIVIA Phase 3 trial met its primary endpoint. In the combined population of patients with immune-mediated necrotizing myopathy (IMNM) and dermatomyositis (DM), VYVGART Hytrulo produced a statistically significant and clinically meaningful 15.4-point greater improvement in Total Improvement Score at Week 52 compared with placebo (47.95 versus 32.56; p=0.0011). Benefits appeared early and were sustained through the study. argenx Announces Positive Topline Results from Phase 3 ALKIVIA Trial
• Positive Sentiment: The results may expand VYVGART’s commercial opportunity. The trial reportedly showed a consistent treatment effect across IMNM and DM, while representing the first Phase 3 study to demonstrate significant improvement in disease activity for IMNM, a subtype with no approved treatment. Argenx says efgartigimod met main goal in myositis trial
• Positive Sentiment: Piper Sandler raised its price target for argenex SE from $1,075 to $1,215 and maintained an “overweight” rating, citing implied upside based on the supplied reference price. The upgrade reinforces positive analyst sentiment following the clinical announcement. Benzinga
• Neutral Sentiment: The reported findings are topline results. Investors will still be watching for full study data, regulatory filings and approval decisions before estimating the timing and financial impact of a potential autoimmune-myositis launch.

argenex Company Profile

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.