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

argenex (NASDAQ:ARGX) had its price objective upped by stock analysts at Morgan Stanley from $1,200.00 to $1,230.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 24.36% from the company’s previous close.

Other analysts have also issued research reports about the stock. Citizens Jmp increased their price objective on shares of argenex from $932.00 to $1,200.00 and gave the stock a “market outperform” rating in a research note on Tuesday. Wedbush boosted their target price on shares of argenex from $1,050.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Tuesday. Bank of America boosted their target price on shares of argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Piper Sandler upped their price target on shares of argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a report on Monday. Finally, Weiss Ratings downgraded argenex from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Two research 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 stock currently has an average rating of “Moderate Buy” and an average target price of $1,114.67.

argenex Stock Performance

Shares of ARGX stock opened at $989.04 on Tuesday. argenex has a fifty-two week low of $650.01 and a fifty-two week high of $1,002.16. The firm has a market capitalization of $61.87 billion, a PE ratio of 37.85, a P/E/G ratio of 1.05 and a beta of 0.46. The stock’s 50-day simple moving average is $883.84 and its 200-day simple moving average is $821.99.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. Sell-side analysts forecast that argenex will post 28.77 earnings per share for the current year.

Hedge Funds Weigh In On argenex

Several large investors have recently made changes to their positions in ARGX. Whipplewood Advisors LLC purchased a new stake in argenex during the first quarter worth $28,000. Eastern Bank acquired a new position in shares of argenex in the second quarter worth about $32,000. Sunbelt Securities Inc. acquired a new position in shares of argenex in the third quarter worth about $36,000. Axiom Investment Management LLC purchased a new stake in shares of argenex during the 1st quarter worth about $50,000. Finally, WPG Advisers LLC boosted its stake in shares of argenex by 17.8% during the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after acquiring an additional 13 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

More argenex News

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.