argenex (NASDAQ:ARGX) Given New $823.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird lowered argenx’s price target from $932 to $823 and maintained a “neutral” rating, implying roughly 0.7% upside from the prior close.
• Despite Baird’s cautious view, analysts overall remain positive, with a consensus “Moderate Buy” rating and average price target of $1,152.56. The stock opened at $817.31, below its 50-day and 200-day moving averages.
• argenx recently beat quarterly expectations, reporting $7.32 in earnings per share and $1.54 billion in revenue; however, its pipeline faces mixed developments, including positive Phase 2 FB102 celiac-disease results and the discontinuation of a Phase 3 Vyvgart study in Sjögren’s disease.

argenex (NASDAQ:ARGX - Get Free Report) had its target price lowered by stock analysts at Robert W. Baird from $932.00 to $823.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's price objective points to a potential upside of 0.70% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Wedbush reaffirmed an "outperform" rating and issued a $1,150.00 target price on shares of argenex in a research note on Thursday, September 3rd. Citizens Jmp increased their price target on argenex from $932.00 to $1,200.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 18th. HC Wainwright raised their price objective on argenex from $940.00 to $1,202.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Wells Fargo & Company upped their target price on argenex from $1,350.00 to $1,415.00 and gave the company an "overweight" rating in a research note on Wednesday, August 26th. Finally, Oppenheimer increased their target price on argenex from $1,014.00 to $1,037.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,152.56.

argenex Price Performance

argenex stock opened at $817.31 on Friday. The stock's 50 day moving average price is $960.50 and its 200 day moving average price is $876.48. argenex has a 1-year low of $661.85 and a 1-year high of $1,072.75. The company has a market cap of $51.13 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 0.97 and a beta of 0.44.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data 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. The firm 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%. On average, equities research analysts anticipate that argenex will post 28.83 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

Several institutional investors and hedge funds have recently modified their holdings of ARGX. Whipplewood Advisors LLC acquired a new position in argenex in the 1st quarter worth $28,000. Eastern Bank acquired a new position in shares of argenex in the second quarter worth about $32,000. Axiom Investment Management LLC acquired a new position in shares of argenex in the first quarter worth about $50,000. WPG Advisers LLC boosted its holdings in argenex by 17.8% in 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 last quarter. Finally, Fifth Third Bancorp boosted its holdings in argenex by 616.7% in the first quarter. Fifth Third Bancorp now owns 172 shares of the company's stock valued at $126,000 after purchasing an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

Key Headlines Impacting argenex

Here are the key news stories impacting argenex this week:

• Positive Sentiment: argenx reported positive Phase 2 results for FB102 in celiac disease. The study met its primary endpoint, showing a statistically significant improvement in the ratio of villus height to crypt depth (p=0.0176), an indicator of reduced gluten-induced intestinal damage. The company plans to advance FB102 into Phase 3 development. argenx Announces Positive Topline Results from Phase 2 Study of FB102 in Celiac Disease
• Neutral Sentiment: FB102 is the first clinical-stage asset from Forte Biosciences following argenx’s acquisition of the company in August. The positive readout provides pipeline diversification, but the program still faces the cost, execution risk and regulatory uncertainty associated with Phase 3 development. argenx Reports Positive Phase 2 Celiac Disease Trial Results
• Negative Sentiment: argenx is discontinuing the Phase 3 UNITY study of subcutaneous Vyvgart (efgartigimod) in moderate-to-severe Sjögren’s disease after an interim analysis found the trial futile. An independent monitoring committee determined that continuing the study was unlikely to demonstrate efficacy. argenx Provides Update on Phase 3 UNITY Study
• Negative Sentiment: The setback removes a potential expansion opportunity for Vyvgart and raises concerns about the drug’s effectiveness across additional autoimmune indications. The trial halt has outweighed the positive celiac data, driving the stock lower and prompting investor-investigation notices. Argenx Discontinues Vyvgart Study in Sjögren’s Disease

argenex Company Profile

argenx SE NASDAQ: ARGX is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx's leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).

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