Robert W. Baird Forecasts Strong Price Appreciation for argenex (NASDAQ:ARGX) Stock

argenex (NASDAQ:ARGX) had its target price hoisted by equities research analysts at Robert W. Baird from $858.00 to $867.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 12.37% from the stock’s current price.

ARGX has been the topic of several other research reports. Wells Fargo & Company lifted their price target on argenex from $1,264.00 to $1,317.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Wedbush reaffirmed an “outperform” rating and issued a $1,000.00 target price on shares of argenex in a report on Wednesday, January 14th. TD Cowen increased their price target on shares of argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of argenex from $925.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Finally, Piper Sandler upped their target price on shares of argenex from $820.00 to $930.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $991.44.

argenex Trading Down 5.6%

Shares of argenex stock opened at $771.53 on Friday. argenex has a 12-month low of $510.05 and a 12-month high of $934.62. The stock has a market cap of $47.74 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 0.71 and a beta of 0.37. The company has a fifty day simple moving average of $828.13 and a 200-day simple moving average of $809.87.

argenex (NASDAQ:ARGX) last posted its earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.05 by $1.97. argenex had a return on equity of 29.78% and a net margin of 41.58%.The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. On average, analysts forecast that argenex will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenex

A number of institutional investors have recently added to or reduced their stakes in ARGX. Abound Wealth Management increased its holdings in argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after buying an additional 32 shares in the last quarter. Sound Income Strategies LLC purchased a new position in argenex in the 4th quarter valued at approximately $28,000. Ameriflex Group Inc. acquired a new position in argenex during the third quarter worth $32,000. Aventura Private Wealth LLC purchased a new stake in argenex during the fourth quarter worth $38,000. Finally, Sunbelt Securities Inc. purchased a new stake in argenex during the third quarter worth $36,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

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.