argenex (NASDAQ:ARGX) Price Target Raised to $1,150.00

argenex (NASDAQ:ARGX) had its price target hoisted by Wedbush from $1,050.00 to $1,150.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Citigroup raised their target price on shares of argenex from $1,152.00 to $1,182.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Oppenheimer boosted 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. Piper Sandler boosted their price target on shares of argenex from $1,075.00 to $1,215.00 and gave the stock an “overweight” rating in a research note on Monday. Guggenheim started coverage on shares of argenex in a report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 price objective for the company. Finally, Royal Bank Of Canada raised their price objective on argenex from $945.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,118.28.

argenex Price Performance

ARGX stock opened at $1,038.12 on Tuesday. argenex has a 1-year low of $658.60 and a 1-year high of $1,039.30. The company has a market capitalization of $64.94 billion, a price-to-earnings ratio of 39.87, a PEG ratio of 1.09 and a beta of 0.46. The business has a 50 day simple moving average of $892.22 and a two-hundred day simple moving average of $825.72.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. Sell-side analysts anticipate that argenex will post 28.47 EPS for the current fiscal year.

Institutional Trading of argenex

Several hedge funds have recently made changes to their positions in ARGX. Whipplewood Advisors LLC bought a new position in shares of argenex in the 1st quarter valued at about $28,000. Eastern Bank bought a new stake in argenex during the second quarter worth approximately $32,000. Sunbelt Securities Inc. bought a new stake in argenex during the third quarter worth approximately $36,000. Axiom Investment Management LLC purchased a new stake in argenex during the first quarter valued at approximately $50,000. Finally, WPG Advisers LLC raised its position in argenex by 17.8% during the first quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after purchasing an additional 13 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting argenex

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.