argenex (NASDAQ:ARGX) Stock Price Target Lowered at Oppenheimer

Key Points

• Oppenheimer lowered argenx’s price target to $1,038 from $1,100 while maintaining an “outperform” rating, implying approximately 26.7% upside from the reported $819.03 share price.
• Analyst sentiment remains broadly positive, with argenx holding a “Moderate Buy” consensus rating and an average price target of $1,155.05, despite several recent target reductions and one downgrade to “hold.”
• argenx reported stronger-than-expected quarterly results, with EPS of $7.32 versus the $5.86 estimate and revenue of $1.54 billion versus $1.45 billion expected; institutional investors own 60.32% of the company.

argenex (NASDAQ:ARGX - Get Free Report) had its price target lowered by Oppenheimer from $1,100.00 to $1,038.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Oppenheimer's price objective suggests a potential upside of 26.73% from the company's current price.

A number of other equities analysts also recently commented on ARGX. Wedbush cut their target price on shares of argenex from $1,150.00 to $1,130.00 and set an "outperform" rating on the stock in a research note on Thursday. Wall Street Zen downgraded argenex from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. BNP Paribas Exane started coverage on argenex in a research report on Monday, June 22nd. They issued an "outperform" rating and a $1,219.00 price objective on the stock. JPMorgan Chase & Co. reissued a "buy" rating on shares of argenex in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "neutral" rating on shares of argenex in a research report on Friday. One investment 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 stock. Based on data from MarketBeat.com, argenex presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,155.05.

argenex Trading Down 0.7%

Shares of argenex stock traded down $6.00 during trading hours on Monday, reaching $819.03. The stock had a trading volume of 122,846 shares, compared to its average volume of 345,136. The firm has a market capitalization of $51.24 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 0.86 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 50 day simple moving average of $959.93 and a two-hundred day simple moving average of $877.49.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. Sell-side analysts forecast that argenex will post 28.83 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its holdings in shares of argenex by 3.4% during 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 buying an additional 83,568 shares during the last quarter. Sands Capital Management LLC increased its position in argenex by 2,046.6% in the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company's stock valued at $300,110,000 after acquiring an additional 340,245 shares during the period. Jennison Associates LLC increased its position in argenex by 3.4% in the 1st quarter. Jennison Associates LLC now owns 237,468 shares of the company's stock valued at $173,411,000 after acquiring an additional 7,707 shares during the period. Allspring Global Investments Holdings LLC increased its position in argenex by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 175,311 shares of the company's stock valued at $130,277,000 after acquiring an additional 2,579 shares during the period. Finally, First Trust Advisors LP raised its stake in argenex by 98.9% during the 1st quarter. First Trust Advisors LP now owns 107,195 shares of the company's stock valued at $78,279,000 after acquiring an additional 53,293 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

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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