Oppenheimer Raises argenex (NASDAQ:ARGX) Price Target to $1,037.00

argenex (NASDAQ:ARGX) had its price target upped by stock analysts at Oppenheimer from $1,014.00 to $1,037.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 12.94% from the stock’s current price.

Several other research analysts also recently commented on ARGX. Wells Fargo & Company raised their price target on shares of argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and issued a $940.00 price target on shares of argenex in a report on Thursday, June 25th. Citigroup upped their price target 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. Morgan Stanley increased their price objective on argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Finally, Bank of America lifted their price objective on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,050.50.

argenex Trading Down 0.7%

ARGX stock opened at $918.22 on Friday. The firm has a 50 day moving average of $868.28 and a 200-day moving average of $815.12. argenex has a 12 month low of $587.37 and a 12 month high of $953.58. The firm has a market capitalization of $57.44 billion, a P/E ratio of 35.26, a price-to-earnings-growth ratio of 1.13 and a beta of 0.45.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating the consensus estimate of $5.86 by $1.46. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 70.27%. Sell-side analysts predict that argenex will post 26.95 EPS for the current year.

Hedge Funds Weigh In On argenex

A number of institutional investors have recently made changes to their positions in ARGX. Eastern Bank bought a new stake in shares of argenex during the 2nd quarter worth $32,000. Sound Income Strategies LLC bought a new position in argenex in the fourth quarter valued at $28,000. Whipplewood Advisors LLC bought a new position in argenex in the first quarter valued at $28,000. Sunbelt Securities Inc. purchased a new stake in argenex during the third quarter valued at about $36,000. Finally, Axiom Investment Management LLC purchased a new stake in argenex during the first quarter valued at about $50,000. Institutional investors own 60.32% of the company’s stock.

Trending Headlines about argenex

Here are the key news stories impacting argenex this week:

• Positive Sentiment: argenex reported Q2 EPS of $7.32, topping estimates, on revenue of $1.54 billion versus expectations of $1.45 billion, highlighting strong operating momentum and profitability. Q2 earnings report and conference call
• Positive Sentiment: Reuters reported that global sales of Vyvgart jumped in the second quarter, a key driver for argenex’s growth and a major reason the stock has been gaining investor attention. Reuters article on Vyvgart sales
• Positive Sentiment: Oppenheimer, RBC, and Guggenheim all raised price targets and maintained bullish ratings, signaling increased Street confidence in argenex’s growth trajectory and pipeline prospects.
• Positive Sentiment: A Seeking Alpha note highlighted surging profitability, robust cash generation, and operational leverage, while pointing to pipeline catalysts such as empasiprubart as additional upside potential. Seeking Alpha rating upgrade article
• Neutral Sentiment: Short-interest data showed 0 shares reported, which provides little actionable signal for investors because the figures appear unchanged and unusually low.
• Negative Sentiment: Citizens JMP trimmed its price target slightly from $944 to $932, though it still kept a positive rating, making this more of a minor caution than a bearish call.

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.