argenx (NASDAQ:ARGX) Price Target Raised to $500.00

argenx (NASDAQ:ARGX) had its target price lifted by research analysts at Stifel Nicolaus from $485.00 to $500.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 14.68% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Truist Financial upped their target price on argenx from $370.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Piper Sandler upped their target price on argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a report on Monday. JMP Securities decreased their target price on argenx from $471.00 to $468.00 and set a “market outperform” rating for the company in a report on Friday, May 10th. Morgan Stanley decreased their target price on argenx from $515.00 to $510.00 and set an “overweight” rating for the company in a report on Tuesday, May 28th. Finally, Scotiabank upped their target price on argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $521.58.

argenx Stock Performance

Shares of ARGX stock opened at $436.00 on Monday. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $550.76. The stock has a 50 day moving average price of $375.35 and a two-hundred day moving average price of $386.61. The company has a market capitalization of $25.91 billion, a P/E ratio of -76.94 and a beta of 0.65.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.33). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The company had revenue of $412.51 million during the quarter, compared to the consensus estimate of $404.03 million. During the same quarter in the previous year, the firm posted ($0.52) EPS. As a group, equities analysts predict that argenx will post -2.75 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Several institutional investors have recently modified their holdings of ARGX. Parkside Financial Bank & Trust purchased a new position in argenx in the third quarter worth about $28,000. GAMMA Investing LLC boosted its position in argenx by 420.0% in the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 63 shares during the last quarter. Mather Group LLC. purchased a new position in argenx in the first quarter worth about $38,000. FNY Investment Advisers LLC purchased a new position in argenx in the fourth quarter worth about $38,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in argenx in the fourth quarter worth about $60,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

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.