argenex (NASDAQ:ARGX) Price Target Cut to $932.00 by Analysts at Citizens Jmp

argenex (NASDAQ:ARGX) had its price target cut by Citizens Jmp from $944.00 to $932.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a market outperform rating on the stock.

Several other analysts have also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $940.00 price objective on shares of argenex in a research note on Thursday, June 25th. Royal Bank Of Canada increased their price target on argenex from $890.00 to $945.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Morgan Stanley upped their target price 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. Bank of America raised their target price on shares of argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Wells Fargo & Company lifted their price target on shares of argenex from $1,260.00 to $1,291.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,050.50.

argenex Trading Down 0.7%

ARGX stock opened at $918.22 on Friday. The business’s fifty day moving average price is $868.28 and its 200 day moving average price is $815.12. argenex has a 12-month low of $587.37 and a 12-month high of $953.58. The company has a market capitalization of $57.44 billion, a PE ratio of 35.26, a P/E/G ratio of 1.14 and a beta of 0.45.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 70.27%. Research analysts predict that argenex will post 26.27 EPS for the current fiscal year.

Institutional Trading of argenex

Several hedge funds have recently modified their holdings of ARGX. Eastern Bank purchased a new stake in shares of argenex in the second quarter valued at approximately $32,000. Sound Income Strategies LLC purchased a new position in argenex in the fourth quarter worth $28,000. Whipplewood Advisors LLC acquired a new stake in argenex in the first quarter valued at $28,000. Sunbelt Securities Inc. purchased a new stake in shares of argenex during the 3rd quarter worth $36,000. Finally, Axiom Investment Management LLC purchased a new stake in shares of argenex during the 1st quarter worth $50,000. 60.32% of the stock is owned by institutional investors and hedge funds.

Key argenex News

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.

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.