argenex (NASDAQ:ARGX) Given New $1,100.00 Price Target at Royal Bank Of Canada

argenex (NASDAQ:ARGX) had its price objective boosted by stock analysts at Royal Bank Of Canada from $1,025.00 to $1,100.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 11.35% from the company’s current price.

Several other analysts have also recently weighed in on ARGX. Guggenheim assumed coverage on shares of argenex in a report on Tuesday, August 4th. They issued a “buy” rating and a $1,185.00 price target on the stock. Robert W. Baird raised their target price on shares of argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Citizens Jmp lifted their target price on shares of argenex from $932.00 to $1,200.00 and gave the company a “market outperform” rating in a research note on Tuesday. Oppenheimer increased their price target on shares of argenex from $1,014.00 to $1,037.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Wall Street Zen lowered argenex from a “buy” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, argenex presently has an average rating of “Moderate Buy” and a consensus target price of $1,111.89.

argenex Trading Up 16.0%

Shares of NASDAQ:ARGX opened at $987.84 on Tuesday. The company has a market cap of $61.80 billion, a price-to-earnings ratio of 37.94, a price-to-earnings-growth ratio of 1.05 and a beta of 0.46. argenex has a 12 month low of $650.01 and a 12 month high of $1,002.16. The company has a 50-day moving average price of $883.84 and a 200-day moving average price of $821.99.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating 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 business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. As a group, research analysts forecast that argenex will post 28.77 EPS for the current fiscal year.

Institutional Trading of argenex

Several institutional investors have recently added to or reduced their stakes in ARGX. Eastern Bank purchased a new position in shares of argenex in the second quarter worth $32,000. Whipplewood Advisors LLC bought a new stake in argenex in the 1st quarter worth about $28,000. Sunbelt Securities Inc. purchased a new position in argenex in the 3rd quarter worth about $36,000. Axiom Investment Management LLC purchased a new position in argenex in the 1st quarter worth about $50,000. Finally, SBI Securities Co. Ltd. lifted its stake in argenex by 268.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 81 shares of the company’s stock valued at $68,000 after acquiring an additional 59 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Key argenex News

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.

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.