Royal Bank Of Canada Issues Positive Forecast for argenex (NASDAQ:ARGX) Stock Price

argenex (NASDAQ:ARGX) had its price target lifted by Royal Bank Of Canada from $945.00 to $1,025.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued reports about the company. Wells Fargo & Company boosted their price objective on 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 objective on shares of argenex in a report on Thursday, June 25th. Citizens Jmp lowered their target price on shares of argenex from $944.00 to $932.00 and set a “market outperform” rating for the company in a research note on Friday. Bank of America increased their target price 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. Finally, Guggenheim increased their price objective on shares of argenex from $1,135.00 to $1,185.00 and gave the stock a “buy” rating in a research note on Friday. Two 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 data from MarketBeat, argenex currently has an average rating of “Moderate Buy” and a consensus target price of $1,050.50.

argenex Trading Down 0.7%

ARGX stock opened at $918.22 on Friday. argenex has a twelve month low of $587.37 and a twelve month high of $953.58. The company has a market capitalization of $57.44 billion, a P/E ratio of 35.26, a PEG ratio of 1.14 and a beta of 0.45. The firm has a 50 day simple moving average of $868.28 and a 200-day simple moving average of $815.12.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.86 by $1.46. The firm had revenue of $1.54 billion for 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%. On average, research analysts predict that argenex will post 26.27 EPS for the current year.

Hedge Funds Weigh In On argenex

Hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its position in argenex by 2.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock worth $372,000 after acquiring an additional 12 shares in the last quarter. Valeo Financial Advisors LLC increased its position in argenex by 0.9% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company’s stock worth $1,153,000 after buying an additional 12 shares during the last quarter. CI Investments Inc. raised its holdings in argenex by 2.6% during the fourth quarter. CI Investments Inc. now owns 469 shares of the company’s stock valued at $394,000 after buying an additional 12 shares in the last quarter. Allworth Financial LP increased its holdings in shares of argenex by 12.7% during the 4th quarter. Allworth Financial LP now owns 115 shares of the company’s stock valued at $97,000 after acquiring an additional 13 shares during the last quarter. Finally, WPG Advisers LLC boosted its position in argenex by 17.8% during the first quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after purchasing an additional 13 shares during the period. 60.32% of the stock is owned by institutional investors and hedge funds.

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.

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.