argenx (NASDAQ:ARGX – Free Report) had its target price lifted by Evercore ISI from $675.00 to $706.00 in a research report sent to investors on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.
Other equities research analysts also recently issued reports about the stock. Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Wolfe Research upgraded shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price target on the stock in a report on Tuesday, November 12th. Wedbush increased their price objective on argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. Finally, JMP Securities upped their price target on argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $630.42.
View Our Latest Analysis on argenx
argenx Stock Performance
argenx (NASDAQ:ARGX – Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter in the prior year, the firm earned ($1.25) EPS. As a group, equities analysts forecast that argenx will post 2.2 EPS for the current year.
Hedge Funds Weigh In On argenx
Several institutional investors have recently made changes to their positions in ARGX. Price T Rowe Associates Inc. MD grew its stake in shares of argenx by 49.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after buying an additional 1,830,651 shares during the period. FMR LLC raised its stake in argenx by 35.9% during the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after buying an additional 1,265,486 shares during the period. Janus Henderson Group PLC boosted its holdings in argenx by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock worth $1,343,797,000 after acquiring an additional 10,975 shares in the last quarter. Avoro Capital Advisors LLC grew its stake in argenx by 0.3% in the first quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock valued at $487,609,000 after acquiring an additional 3,900 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of argenx by 3.6% during the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after acquiring an additional 21,189 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.
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