Morgan Stanley Issues Positive Forecast for argenex (NASDAQ:ARGX) Stock Price

Key Points

• Morgan Stanley raised argenx’s price target to $1,190 from $1,140 and maintained an “overweight” rating, implying 35.8% upside from the prior close.
• Analyst sentiment remains broadly positive: argenx has a “Moderate Buy” consensus rating and an average price target of $1,142.37, supported by several recent target increases.
• argenx exceeded quarterly expectations with $7.80 in earnings per share versus the $7.44 consensus and $1.75 billion in revenue, although a clinical testing setback involving efgartigimod in Sjögren’s syndrome has introduced concerns about future growth.

argenex (NASDAQ:ARGX - Get Free Report) had its price target hoisted by equities researchers at Morgan Stanley from $1,140.00 to $1,190.00 in a research note issued on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 35.80% from the company's previous close.

A number of other brokerages also recently commented on ARGX. Citigroup upped their target price on argenex from $1,152.00 to $1,182.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Wall Street Zen raised shares of argenex from a "hold" rating to a "buy" rating in a research note on Saturday, October 17th. Oppenheimer cut their target price on shares of argenex from $1,100.00 to $1,038.00 and set an "outperform" rating for the company in a report on Monday, October 12th. Piper Sandler boosted their target price on shares of argenex from $1,075.00 to $1,215.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Finally, HC Wainwright raised their price target on shares of argenex from $940.00 to $1,202.00 and gave the company a "buy" rating in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,142.37.

argenex Stock Performance

NASDAQ ARGX traded up $0.55 on Friday, reaching $876.31. 184,860 shares of the company's stock traded hands, compared to its average volume of 352,220. argenex has a fifty-two week low of $661.85 and a fifty-two week high of $1,072.75. The firm has a market cap of $55.11 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 0.82 and a beta of 0.44. The stock has a 50 day moving average price of $956.17 and a 200-day moving average price of $885.45.

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

Institutional Trading of argenex

Institutional investors and hedge funds have recently made changes to their positions in the business. Whipplewood Advisors LLC purchased a new position in shares of argenex during the 1st quarter valued at approximately $28,000. Eastern Bank purchased a new stake in argenex in the 2nd quarter worth $32,000. Axiom Investment Management LLC acquired a new position in argenex during the first quarter worth $50,000. WPG Advisers LLC lifted its holdings 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 in the last quarter. Finally, Mather Group LLC. lifted its holdings in argenex by 19.1% during the third quarter. Mather Group LLC. now owns 81 shares of the company's stock valued at $78,000 after purchasing an additional 13 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting argenex

Here are the key news stories impacting argenex this week:

• Positive Sentiment: Strong Q3 performance: argenx reported $1.75 billion in revenue and $7.80 in earnings per share, exceeding the $7.44 consensus estimate. Product net sales rose 54% year over year to $1.7 billion, while operating profit reached $486 million, supporting the investment case. argenx quarterly earnings report
• Positive Sentiment: Analysts remain constructive: Guggenheim lowered its price target to $1,120 from $1,185 but retained a “buy” rating. Wells Fargo cut its target to $1,336 from $1,356 while maintaining an “overweight” rating. Both targets imply meaningful upside from current levels. Guggenheim analyst rating Wells Fargo analyst rating
• Positive Sentiment: Potential entry point: Jefferies described the post-Sjogren’s reaction as a potential buying opportunity and said it continues to like ARGX’s setup through year-end 2026. Jefferies comments on argenx
• Neutral Sentiment: Robert W. Baird raised its target to $861 from $823 but maintained a “neutral” rating, suggesting limited upside at its valuation. Baird analyst rating
• Negative Sentiment: Clinical setback: A surprise testing setback in Sjogren’s syndrome involving efgartigimod, argenx’s core product, raised concerns about future growth and helped offset the earnings beat. Royal Bank of Canada also reduced its price target, adding to near-term caution. argenx clinical testing setback

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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