HC Wainwright Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its price objective raised by stock analysts at HC Wainwright from $533.00 to $617.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 3.60% from the stock’s current price.

Several other analysts have also issued reports on the company. Citigroup upped their target price on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 target price on the stock in a report on Tuesday, July 23rd. Wells Fargo & Company upped their target price on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Raymond James restated a “strong-buy” rating and issued a $605.00 price objective on shares of argenx in a research note on Thursday, October 10th. Finally, Evercore ISI upped their price objective on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, argenx has an average rating of “Moderate Buy” and an average target price of $596.78.

argenx Price Performance

ARGX stock opened at $595.58 on Friday. The stock has a market capitalization of $35.61 billion, a P/E ratio of -676.80 and a beta of 0.63. The business has a 50-day moving average of $539.46 and a 200-day moving average of $465.81. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $610.73.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $543.29 million. During the same quarter in the prior year, the company posted ($1.25) earnings per share. Equities analysts expect that argenx will post -0.36 EPS for the current year.

Hedge Funds Weigh In On argenx

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its position in 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 in the last quarter. J.Safra Asset Management Corp grew its position in 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 in the last quarter. GAMMA Investing LLC grew its position in 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 in the last quarter. Point72 Hong Kong Ltd acquired a new stake in argenx during the second quarter worth approximately $76,000. Finally, Cromwell Holdings LLC grew its position in argenx by 73.3% during the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

About argenx

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.