argenex (NASDAQ:ARGX) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Key Points

• Citizens JMP raised argenx’s price target from $932 to $1,200 and maintained a “market outperform” rating, implying 21.48% upside from the prior close. The broader analyst consensus is “Moderate Buy,” with an average target of $1,107.72.
• argenx reported quarterly EPS of $7.32, beating estimates of $5.86, while revenue of $1.54 billion exceeded expectations of $1.45 billion. The stock opened at $987.84, near its 52-week high.
• Positive Phase 3 ALKIVIA results for VYVGART Hytrulo could expand argenx’s commercial opportunity in autoimmune myositis, including IMNM, which has no approved treatment. Investors are awaiting full data, regulatory filings and approval decisions.

argenex (NASDAQ:ARGX - Get Free Report) had its price objective lifted by investment analysts at Citizens Jmp from $932.00 to $1,200.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's price target indicates a potential upside of 21.48% from the stock's previous close.

A number of other analysts have also recently weighed in on the stock. Citigroup increased their price objective on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Wall Street Zen cut shares of argenex from a "buy" rating to a "hold" rating in a research note on Saturday. Robert W. Baird raised their price objective on shares of argenex from $867.00 to $932.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Oppenheimer lifted their price target on argenex from $1,014.00 to $1,037.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Finally, Wedbush boosted their price objective on argenex from $1,000.00 to $1,050.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,107.72.

argenex Stock Up 16.0%

ARGX opened at $987.84 on Tuesday. The firm's 50 day moving average is $883.84 and its 200-day moving average is $821.99. The firm has a market capitalization of $61.80 billion, a P/E ratio of 37.94, a P/E/G ratio of 1.05 and a beta of 0.46. argenex has a 52-week low of $650.01 and a 52-week high of $1,002.16.

argenex (NASDAQ:ARGX - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. Equities analysts expect that argenex will post 28.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenex

A number of institutional investors and hedge funds have recently modified their holdings of ARGX. AQR Capital Management LLC increased its stake in argenex by 32.1% in the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company's stock worth $297,000 after purchasing an additional 122 shares in the last quarter. NewEdge Advisors LLC lifted its stake in argenex by 5,962.5% during the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company's stock valued at $862,000 after buying an additional 1,431 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of argenex by 22.3% in the first quarter. Focus Partners Wealth now owns 400 shares of the company's stock worth $237,000 after buying an additional 73 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of argenex by 550.0% in the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company's stock worth $69,000 after buying an additional 99 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of argenex by 60.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company's stock worth $73,000 after acquiring an additional 50 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting argenex

Here are the key news stories impacting argenex this week:

• Positive Sentiment: ALKIVIA Phase 3 trial met its primary endpoint. In the combined population of patients with immune-mediated necrotizing myopathy (IMNM) and dermatomyositis (DM), VYVGART Hytrulo produced a statistically significant and clinically meaningful 15.4-point greater improvement in Total Improvement Score at Week 52 compared with placebo (47.95 versus 32.56; p=0.0011). Benefits appeared early and were sustained through the study. argenx Announces Positive Topline Results from Phase 3 ALKIVIA Trial
• Positive Sentiment: The results may expand VYVGART’s commercial opportunity. The trial reportedly showed a consistent treatment effect across IMNM and DM, while representing the first Phase 3 study to demonstrate significant improvement in disease activity for IMNM, a subtype with no approved treatment. Argenx says efgartigimod met main goal in myositis trial
• Positive Sentiment: Piper Sandler raised its price target for argenex SE from $1,075 to $1,215 and maintained an “overweight” rating, citing implied upside based on the supplied reference price. The upgrade reinforces positive analyst sentiment following the clinical announcement. Benzinga
• Neutral Sentiment: The reported findings are topline results. Investors will still be watching for full study data, regulatory filings and approval decisions before estimating the timing and financial impact of a potential autoimmune-myositis launch.

argenex Company Profile

argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

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