argenx (NASDAQ:ARGX) Price Target Raised to $1,100.00 at Guggenheim

argenx (NASDAQ:ARGX) had its price objective increased by equities research analysts at Guggenheim from $775.00 to $1,100.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 89.51% from the company’s previous close.

A number of other equities research analysts have also recently commented on ARGX. Deutsche Bank Aktiengesellschaft cut argenx from a “hold” rating to a “sell” rating in a research report on Friday, January 17th. JMP Securities raised their target price on argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 14th. William Blair restated an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Robert W. Baird raised their target price on argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler raised their target price on argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

argenx Stock Performance

Shares of ARGX opened at $580.43 on Monday. The business’s 50-day moving average is $640.47 and its two-hundred day moving average is $594.85. The company has a market capitalization of $35.27 billion, a P/E ratio of -659.58 and a beta of 0.59. argenx has a fifty-two week low of $349.86 and a fifty-two week high of $678.21.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $761.22 million for the quarter, compared to the consensus estimate of $678.52 million. Analysts forecast that argenx will post 3.13 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GeoWealth Management LLC lifted its stake in argenx by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock worth $31,000 after purchasing an additional 18 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in argenx in the 4th quarter worth approximately $37,000. Global Retirement Partners LLC lifted its stake in argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock worth $38,000 after purchasing an additional 48 shares in the last quarter. FIL Ltd purchased a new position in argenx in the 4th quarter worth approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in argenx in the 4th quarter worth approximately $38,000. 60.32% of the stock is 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.