argenx (NASDAQ:ARGX) Price Target Raised to $725.00

argenx (NASDAQ:ARGX) had its target price upped by Piper Sandler from $620.00 to $725.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on ARGX. Oppenheimer reaffirmed an “outperform” rating and set a $675.00 price target (up from $646.00) on shares of argenx in a report on Thursday, November 21st. Wedbush restated an “outperform” rating and issued a $655.00 target price on shares of argenx in a research note on Tuesday, December 3rd. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $439.00 to $715.00 in a research report on Tuesday, November 5th. Robert W. Baird cut argenx from an “outperform” rating to a “neutral” rating and raised their price target for the company from $515.00 to $650.00 in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $645.61.

argenx Stock Performance

Shares of NASDAQ:ARGX opened at $648.62 on Tuesday. The company has a market capitalization of $39.16 billion, a PE ratio of -737.07 and a beta of 0.59. The company’s fifty day moving average is $609.09 and its 200-day moving average is $545.12. argenx has a 52 week low of $349.86 and a 52 week high of $659.95.

argenx (NASDAQ:ARGX) last released its quarterly 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. The firm had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same period in the previous year, the business earned ($1.25) earnings per share. On average, analysts forecast that argenx will post 2.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after purchasing an additional 1,265,486 shares during the last quarter. Janus Henderson Group PLC boosted its stake in argenx by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock valued at $1,343,797,000 after buying an additional 10,975 shares in the last quarter. Clearbridge Investments LLC boosted its stake in argenx by 3.6% in the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after buying an additional 21,189 shares in the last quarter. Wellington Management Group LLP grew its position in argenx by 13.0% in the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock valued at $261,470,000 after acquiring an additional 55,617 shares during the last quarter. Finally, Sei Investments Co. raised its stake in argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after acquiring an additional 50,477 shares in the last quarter. 60.32% of the stock is owned by 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.