argenex SE (NASDAQ:ARGX) Stock Has Average Target Price of $1,158.61 According to Brokerages

argenex SE (NASDAQ:ARGX) has received an average rating of “Moderate Buy” from the twenty-four research firms that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $1,152.56.

A number of brokerages have issued reports on ARGX. Citizens Jmp upped their target price on argenex from $932.00 to $1,200.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 18th. HC Wainwright lifted their target price on argenex from $940.00 to $1,202.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Piper Sandler boosted 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, August 17th. Morgan Stanley increased their price objective on argenex from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Monday, August 31st. Finally, Robert W. Baird decreased their target price on shares of argenex from $932.00 to $823.00 and set a “neutral” rating for the company in a research report on Friday.

Hedge Funds Weigh In On argenex

Hedge funds have recently made changes to their positions in the business. Tidal Investments LLC increased its holdings in shares of argenex by 97.8% in the second quarter. Tidal Investments LLC now owns 2,362 shares of the company’s stock valued at $2,191,000 after buying an additional 1,168 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in argenex in the 2nd quarter worth about $27,584,000. Squarepoint Ops LLC boosted its holdings in shares of argenex by 314.8% during the second quarter. Squarepoint Ops LLC now owns 58,400 shares of the company’s stock worth $54,182,000 after purchasing an additional 44,321 shares during the period. Optiver Holding B.V. increased its position in argenex by 907.0% in the 1st quarter. Optiver Holding B.V. now owns 10,110 shares of the company’s stock worth $7,383,000 after purchasing an additional 9,106 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of argenex by 3.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock worth $1,847,592,000 after purchasing an additional 83,568 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex News Roundup

Here are the key news stories impacting argenex this week:

• Positive Sentiment: argenx reported that its Phase 2 trial of FB102 in celiac disease met its primary endpoint, with a statistically significant improvement in the ratio of villous height to crypt depth. The company plans to advance the CD122 inhibitor into Phase 3 development, adding potential value to its pipeline. argenx Announces Positive Topline Results from Phase 2 Study of FB102 in Celiac Disease
• Positive Sentiment: The celiac results provide the first clinical validation of FB102 following argenx’s acquisition of Forte Biosciences and could support a new growth opportunity beyond its existing Vyvgart franchise. argenx Meets Primary Endpoint in Phase II Celiac Disease Study
• Neutral Sentiment: Reported short interest was listed at zero shares as of October 9, implying no measurable short-selling pressure based on the supplied data. However, the report’s wording that short interest “increased” conflicts with the zero-share figure, reducing its usefulness as a trading signal.
• Negative Sentiment: argenx discontinued the Phase 3 UNITY study of subcutaneous efgartigimod in Sjögren’s disease after an independent monitoring committee determined the trial was futile at interim analysis. The failure removes a major potential indication for Vyvgart and triggered a sharp selloff. Argenx discontinues Vyvgart study in Sjögren’s disease, shares tumble
• Negative Sentiment: Robert W. Baird lowered its price target to $823 from $932 and retained a neutral rating, reflecting increased uncertainty after the trial setback. argenx price target update
• Negative Sentiment: A shareholder-investigation notice was announced following the trial discontinuation, adding a potential legal and headline risk, although no claims or outcome have been established. argenx Investigation Notice

argenex Stock Performance

Shares of NASDAQ:ARGX opened at $825.03 on Friday. The company has a market cap of $51.61 billion, a P/E ratio of 31.68, a PEG ratio of 0.86 and a beta of 0.44. The business’s 50-day simple moving average is $959.93 and its 200 day simple moving average is $876.12. argenex has a one year low of $661.85 and a one year high of $1,072.75.

argenex (NASDAQ:ARGX) last announced its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. Analysts predict that argenex will post 28.83 earnings per share for the current year.

About argenex

argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx’s leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).