Robert W. Baird Forecasts Strong Price Appreciation for argenex (NASDAQ:ARGX) Stock

Key Points

• Robert W. Baird raised argenex’s price target from $867 to $932 while maintaining a “neutral” rating, implying approximately 1.5% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,054.11; targets from other firms range as high as $1,185.
• argenex exceeded quarterly expectations, reporting $7.32 in earnings per share versus the $5.86 consensus estimate and $1.54 billion in revenue versus $1.45 billion expected. Institutional investors own about 60.32% of the stock.

argenex (NASDAQ:ARGX - Get Free Report) had its price objective boosted by investment analysts at Robert W. Baird from $867.00 to $932.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's price target suggests a potential upside of 1.50% from the company's previous close.

Several other research analysts have also weighed in on the company. Glj Research raised argenex to a "strong-buy" rating in a research report on Friday, April 3rd. Guggenheim lifted their target price on argenex from $1,135.00 to $1,185.00 and gave the company a "buy" rating in a research note on Friday. Oppenheimer upped their target price on argenex from $1,014.00 to $1,037.00 and gave the company an "outperform" rating in a report on Friday. Citizens Jmp reduced their price target on shares of argenex from $944.00 to $932.00 and set a "market outperform" rating for the company in a research report on Friday. Finally, Wedbush restated an "outperform" rating and set a $1,000.00 price target on shares of argenex in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,054.11.

argenex Stock Performance

NASDAQ ARGX opened at $918.22 on Monday. The stock has a market capitalization of $57.44 billion, a P/E ratio of 35.26, a P/E/G ratio of 1.21 and a beta of 0.45. argenex has a 1 year low of $587.37 and a 1 year high of $953.58. The business's fifty day moving average is $868.28 and its two-hundred day moving average is $815.22.

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, topping the consensus estimate of $5.86 by $1.46. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. On average, research analysts forecast that argenex will post 26.95 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its stake in shares of argenex by 2.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company's stock valued at $372,000 after buying an additional 12 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in argenex by 0.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company's stock worth $1,153,000 after buying an additional 12 shares during the last quarter. CI Investments Inc. raised its position in argenex by 2.6% during the fourth quarter. CI Investments Inc. now owns 469 shares of the company's stock valued at $394,000 after acquiring an additional 12 shares in the last quarter. Allworth Financial LP raised its position in argenex by 12.7% during the fourth quarter. Allworth Financial LP now owns 115 shares of the company's stock valued at $97,000 after acquiring an additional 13 shares in the last quarter. Finally, WPG Advisers LLC lifted its stake 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 acquiring an additional 13 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

About argenex

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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