argenex (NASDAQ:ARGX) Given New $1,025.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered argenex’s price target from $1,100 to $1,025 while maintaining an “outperform” rating, implying about 19.24% upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $1,148; several firms recently issued targets above $1,090.
• argenex reported quarterly EPS of $7.32, beating estimates of $5.86, while revenue of $1.54 billion exceeded expectations of $1.45 billion. Institutional investors own approximately 60.32% of the company.

argenex (NASDAQ:ARGX - Get Free Report) had its price target cut by stock analysts at Royal Bank Of Canada from $1,100.00 to $1,025.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 19.24% from the company's previous close.

Several other research firms also recently commented on ARGX. Weiss Ratings downgraded argenex from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. BNP Paribas Exane assumed coverage on argenex in a research report on Monday, June 22nd. They set an "outperform" rating and a $1,219.00 price objective on the stock. Truist Financial boosted their price objective on argenex from $1,030.00 to $1,095.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Piper Sandler increased their target price on shares of argenex from $1,075.00 to $1,215.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Finally, JPMorgan Chase & Co. restated a "buy" rating on shares of argenex in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,148.00.

argenex Price Performance

Shares of ARGX stock opened at $859.64 on Tuesday. The company has a market cap of $54.06 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 0.75 and a beta of 0.44. argenex has a 1 year low of $661.85 and a 1 year high of $1,072.75. The firm has a fifty day moving average price of $955.42 and a 200-day moving average price of $882.64.

argenex (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping analysts' consensus estimates of $5.86 by $1.46. The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. Equities research analysts expect that argenex will post 28.71 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Abel Hall LLC grew its holdings in argenex by 5.1% during the 3rd quarter. Abel Hall LLC now owns 514 shares of the company's stock valued at $493,000 after buying an additional 25 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of argenex during the 3rd quarter worth approximately $512,000. Assenagon Asset Management S.A. raised its holdings in shares of argenex by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 36,417 shares of the company's stock worth $34,921,000 after acquiring an additional 19,886 shares in the last quarter. Gunderson Capital Management LLC purchased a new stake in shares of argenex during the 3rd quarter worth approximately $5,828,000. Finally, Nvwm LLC boosted its position in shares of argenex by 1.3% during the 3rd quarter. Nvwm LLC now owns 1,538 shares of the company's stock valued at $1,475,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

About argenex

argenx SE NASDAQ: ARGX is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company uses its antibody engineering capabilities to discover and advance medicines designed to target disease-causing immune mechanisms.

argenx's lead product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce levels of disease-causing immunoglobulin G antibodies. VYVGART is approved in several markets for the treatment of generalized myasthenia gravis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.