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

argenex (NASDAQ:ARGX) had its price objective raised by equities research analysts at Robert W. Baird from $867.00 to $932.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price points to a potential upside of 1.50% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company boosted their target price on argenex from $1,260.00 to $1,291.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. HC Wainwright reiterated a “buy” rating and set a $940.00 price target on shares of argenex in a report on Thursday, June 25th. Royal Bank Of Canada lifted their price target on shares of argenex from $945.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley boosted their price objective on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Finally, Bank of America upped their price objective on shares of argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,054.11.

argenex Price Performance

NASDAQ ARGX opened at $918.22 on Monday. argenex has a fifty-two week low of $587.37 and a fifty-two week high of $953.58. The stock’s 50-day moving average is $868.28 and its two-hundred day moving average is $815.22. The firm has a market cap of $57.44 billion, a P/E ratio of 35.26, a price-to-earnings-growth ratio of 1.21 and a beta of 0.45.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.86 by $1.46. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. On average, equities analysts expect that argenex will post 26.95 EPS for the current year.

Institutional Trading of argenex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp lifted its stake in shares of argenex by 20,977.7% in the fourth quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock valued at $654,772,000 after buying an additional 774,916 shares during the period. Sands Capital Management LLC grew its position in argenex by 2,046.6% during the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after buying an additional 340,245 shares in the last quarter. Invesco Ltd. increased its stake in argenex by 390.4% during the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after acquiring an additional 331,489 shares during the period. Wellington Management Group LLP raised its holdings in argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after acquiring an additional 324,653 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in argenex by 570.3% in the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after acquiring an additional 250,278 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.