argenx (NASDAQ:ARGX) Price Target Raised to $639.00

argenx (NASDAQ:ARGX) had its target price boosted by stock analysts at Wells Fargo & Company from $547.00 to $639.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 7.29% from the stock’s previous close.

ARGX has been the subject of several other research reports. Raymond James reaffirmed a “strong-buy” rating and issued a $605.00 price target on shares of argenx in a report on Thursday, October 10th. Evercore ISI increased their price target on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a report on Friday, July 12th. JPMorgan Chase & Co. increased their price target on argenx from $500.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Barclays raised argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Finally, Oppenheimer increased their price target on argenx from $560.00 to $646.00 and gave the company an “outperform” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $596.78.

argenx Price Performance

Shares of argenx stock opened at $595.58 on Friday. The business has a 50 day simple moving average of $539.46 and a two-hundred day simple moving average of $465.81. argenx has a 12 month low of $327.73 and a 12 month high of $610.73. The stock has a market capitalization of $35.61 billion, a P/E ratio of -676.80 and a beta of 0.63.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the prior year, the firm earned ($1.25) earnings per share. As a group, research analysts anticipate that argenx will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ARGX. Blue Trust Inc. boosted its position in shares of argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after buying an additional 62 shares during the period. J.Safra Asset Management Corp boosted its position in shares of argenx by 590.0% during the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after buying an additional 59 shares during the period. GAMMA Investing LLC boosted its position in shares of argenx by 51.3% during the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after buying an additional 40 shares during the period. Point72 Hong Kong Ltd purchased a new position in argenx in the second quarter valued at $76,000. Finally, Cromwell Holdings LLC boosted its holdings in argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after purchasing an additional 66 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenx Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.