argenex (NASDAQ:ARGX) Price Target Raised to $861.00

Key Points

• Robert W. Baird raised argenx’s price target from $823 to $861 while maintaining a “neutral” rating, implying 1.69% downside from the prior close.
• Analyst sentiment remains broadly positive: argenx has a “Moderate Buy” consensus rating and an average price target of $1,150, despite some target reductions from Oppenheimer and Wedbush.
• argenx reported quarterly EPS of $7.80, beating estimates of $7.44, on revenue of $1.75 billion; institutional investors own 60.32% of the company’s shares.

argenex (NASDAQ:ARGX - Get Free Report) had its target price lifted by stock analysts at Robert W. Baird from $823.00 to $861.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's target price would suggest a potential downside of 1.69% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Citizens Jmp increased their target price on shares of argenex from $932.00 to $1,200.00 and gave the company a "market outperform" rating in a research note on Tuesday, August 18th. HC Wainwright boosted their price target on argenex from $940.00 to $1,202.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Oppenheimer cut their price target on argenex from $1,100.00 to $1,038.00 and set an "outperform" rating for the company in a report on Monday, October 12th. Wedbush reduced their price objective on argenex from $1,150.00 to $1,130.00 and set an "outperform" rating for the company in a research report on Thursday, October 8th. Finally, Piper Sandler lifted their price objective on argenex from $1,075.00 to $1,215.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,150.00.

argenex Price Performance

Shares of argenex stock opened at $875.76 on Friday. The company has a market cap of $55.08 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 0.82 and a beta of 0.44. The firm has a fifty day moving average price of $956.17 and a two-hundred day moving average price of $885.45. argenex has a fifty-two week low of $661.85 and a fifty-two week high of $1,072.75.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data on Friday, October 23rd. The company reported $7.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.44 by $0.36. argenex had a net margin of 32.19% and a return on equity of 43.59%. The company had revenue of $1.75 billion for the quarter. Analysts expect that argenex will post 28.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenex

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its stake in argenex by 3.4% in the first quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company's stock valued at $1,847,592,000 after acquiring an additional 83,568 shares during the period. Jennison Associates LLC raised its position in argenex by 3.4% in the first quarter. Jennison Associates LLC now owns 237,468 shares of the company's stock worth $173,411,000 after purchasing an additional 7,707 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in argenex by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 175,311 shares of the company's stock worth $130,277,000 after purchasing an additional 2,579 shares in the last quarter. First Trust Advisors LP lifted its stake in argenex by 98.9% during the first quarter. First Trust Advisors LP now owns 107,195 shares of the company's stock worth $78,279,000 after purchasing an additional 53,293 shares during the period. Finally, Eagle Health Investments LP lifted its stake in argenex by 21.7% during the first quarter. Eagle Health Investments LP now owns 76,336 shares of the company's stock worth $55,744,000 after purchasing an additional 13,606 shares during the period. 60.32% of the stock is owned by institutional investors.

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.

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