argenex (NASDAQ:ARGX) Given New $932.00 Price Target at Robert W. Baird

argenex (NASDAQ:ARGX) had its target price hoisted by Robert W. Baird from $867.00 to $932.00 in a report issued on Monday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other equities analysts also recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $940.00 target price on shares of argenex in a research note on Thursday, June 25th. Oppenheimer increased their price target on shares of argenex from $1,014.00 to $1,037.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup raised their price target on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Morgan Stanley lifted their price target on shares of argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Finally, Weiss Ratings cut argenex from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. 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. According to data from MarketBeat.com, argenex currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,054.11.

argenex Stock Performance

NASDAQ ARGX opened at $888.82 on Monday. The stock’s fifty day moving average is $870.53 and its two-hundred day moving average is $815.82. The firm has a market capitalization of $55.60 billion, a P/E ratio of 34.13, a price-to-earnings-growth ratio of 1.21 and a beta of 0.45. argenex has a fifty-two week low of $590.78 and a fifty-two week high of $953.58.

argenex (NASDAQ:ARGX) last issued its 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. argenex had a return on equity of 43.59% and a net margin of 32.19%.The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. As a group, sell-side analysts forecast that argenex will post 26.95 EPS for the current year.

Institutional Investors Weigh In On argenex

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

Key argenex News

Here are the key news stories impacting argenex this week:

• Positive Sentiment: argenx agreed to acquire Forte Biosciences (NASDAQ: FBRX) for $77 per share in cash, representing an equity value of approximately $2.2 billion and a 41% premium to Forte’s prior closing price. The transaction gives argenx full ownership of FB102, an experimental autoimmune therapy. argenx acquisition announcement
• Positive Sentiment: FB102’s Phase 1b data in vitiligo and celiac disease reportedly support CD122 biology and a potential “pipeline-in-a-product” opportunity targeting pathogenic T-cell and NK-cell activity in diseases with significant unmet need. The acquisition broadens argenx’s immunology pipeline beyond its existing portfolio. argenx Forte acquisition details
• Positive Sentiment: Analyst sentiment remains supportive in parts of the market: Robert W. Baird raised its price target to $932, while HC Wainwright increased its earnings estimates. A separate Oppenheimer report had previously lifted its target to $1,037.
• Neutral Sentiment: Baird maintained a “neutral” rating despite the higher target, implying that the acquisition’s long-term value is not yet fully reflected in near-term expectations. Baird price target report
• Negative Sentiment: The all-cash $2.2 billion transaction represents a substantial capital commitment for a clinical-stage asset. Investors may be concerned about integration costs, future development spending and the risk that FB102’s early-stage results do not translate into successful late-stage trials or commercialization. One analysis consequently rated the stock “Hold.” Forte and argenx investment analysis

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.