argenex (NASDAQ:ARGX) Price Target Raised to $1,215.00

argenex (NASDAQ:ARGX) had its price target hoisted by Piper Sandler from $1,075.00 to $1,215.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently weighed in on ARGX. Wedbush increased their price target on argenex from $1,000.00 to $1,050.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Morgan Stanley boosted their price objective on argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. HC Wainwright reaffirmed a “buy” rating and set a $940.00 price objective on shares of argenex in a report on Thursday, June 25th. Wall Street Zen lowered shares of argenex from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings downgraded shares of argenex from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,118.28.

argenex Trading Up 4.0%

argenex stock opened at $1,032.86 on Monday. The business’s 50 day simple moving average is $889.43 and its 200 day simple moving average is $824.32. argenex has a 12 month low of $651.89 and a 12 month high of $1,035.09. The company has a market cap of $64.62 billion, a price-to-earnings ratio of 39.66, a PEG ratio of 1.03 and a beta of 0.46.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. As a group, equities research analysts forecast that argenex will post 29.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenex

Several hedge funds have recently made changes to their positions in ARGX. Navellier & Associates Inc. raised its stake in shares of argenex by 3.3% during the 2nd quarter. Navellier & Associates Inc. now owns 7,257 shares of the company’s stock valued at $6,733,000 after purchasing an additional 234 shares during the period. Merit Financial Group LLC lifted its holdings in argenex by 17.1% during the 2nd quarter. Merit Financial Group LLC now owns 466 shares of the company’s stock worth $432,000 after purchasing an additional 68 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in argenex by 9.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 365 shares of the company’s stock worth $338,000 after purchasing an additional 32 shares during the period. Ballentine Partners LLC boosted its stake in argenex by 30.8% in the 2nd quarter. Ballentine Partners LLC now owns 772 shares of the company’s stock worth $716,000 after purchasing an additional 182 shares during the period. Finally, Peregrine Capital Management LLC bought a new position in argenex in the 2nd quarter worth about $27,584,000. 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: Positive Phase 3 data strengthened confidence in efgartigimod’s effectiveness in autoimmune myositis. Analysts said the results reduce development and commercial risk for the VYVGART franchise, potentially creating another significant growth market. ARGX Announces Positive Phase III Data on Vyvgart Hytrulo, Stock Up
• Positive Sentiment: Morgan Stanley and Oppenheimer viewed the myositis data as supportive of the VYVGART outlook, with Oppenheimer describing the results as helping “derisk” the opportunity. Argenx’s Myositis Data Derisk Vyvgart Opportunity, Oppenheimer Says
• Positive Sentiment: Several firms raised their valuation targets following the data: Morgan Stanley to $1,230 with an Overweight rating, HC Wainwright to $1,202 with a Buy rating, Wedbush to $1,150, RBC to $1,100, and Truist to $1,095. These revisions signal increased expectations for future earnings and sales growth.
• Positive Sentiment: HC Wainwright increased its EPS forecasts to $34.82 for fiscal 2027 and $44.72 for fiscal 2028, above its prior estimates of $34.38 and $43.50. The higher estimates reflect improving confidence in argenex’s longer-term growth prospects. Piper Sandler Forecasts Strong Price Appreciation for argenex Stock

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.