Royal Bank Of Canada Boosts argenex (NASDAQ:ARGX) Price Target to $1,100.00

argenex (NASDAQ:ARGX) had its target price increased by equities researchers at Royal Bank Of Canada from $1,025.00 to $1,100.00 in a note issued to investors 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 previous close.

ARGX has been the subject of a number of other research reports. Citizens Jmp lifted their target price on shares of argenex from $932.00 to $1,200.00 and gave the stock a “market outperform” rating in a research note on Tuesday. HC Wainwright lifted their target price on argenex from $940.00 to $1,202.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley boosted their price target 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. Wells Fargo & Company boosted their target price on shares of argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Guggenheim began coverage on shares of argenex in a research note on Tuesday, August 4th. They issued a “buy” rating and a $1,185.00 price target for the company. 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. According to MarketBeat, argenex currently has an average rating of “Moderate Buy” and an average price target of $1,111.89.

argenex Stock Up 16.0%

Shares of argenex stock opened at $987.84 on Tuesday. The company’s fifty day moving average is $883.84 and its 200 day moving average is $821.99. argenex has a twelve month low of $650.01 and a twelve month high of $1,002.16. The stock has a market cap 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 (NASDAQ:ARGX) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. As a group, equities analysts anticipate that argenex will post 28.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenex

Hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp increased its holdings in shares of argenex by 20,977.7% in the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock worth $654,772,000 after buying an additional 774,916 shares during the last quarter. Sands Capital Management LLC raised its holdings in shares of argenex by 2,046.6% during the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock valued at $300,110,000 after buying an additional 340,245 shares in the last quarter. Invesco Ltd. raised its holdings in shares of argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after buying an additional 331,489 shares in the last quarter. Wellington Management Group LLP lifted its position in argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after buying an additional 324,653 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in argenex by 570.3% during the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after acquiring an additional 250,278 shares during the last quarter. 60.32% of the stock is currently owned by 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.

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.