argenx (NASDAQ:ARGX) Price Target Raised to $480.00 at Truist Financial

argenx (NASDAQ:ARGX) had its price target boosted by Truist Financial from $440.00 to $480.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently commented on ARGX. Scotiabank raised 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. Wells Fargo & Company lifted their price objective on shares of argenx from $478.00 to $542.00 and gave the company an overweight rating in a report on Monday. Bank of America reiterated a buy rating and set a $607.00 target price (up from $535.00) on shares of argenx in a report on Monday. JPMorgan Chase & Co. decreased their price target on shares of argenx from $560.00 to $500.00 and set an overweight rating for the company in a research report on Monday, May 13th. Finally, Stifel Nicolaus upped their price objective on argenx from $485.00 to $500.00 and gave the stock a buy rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $525.53.

argenx Stock Performance

argenx stock opened at $451.55 on Tuesday. The company’s 50 day simple moving average is $378.25 and its 200-day simple moving average is $386.48. argenx has a 1 year low of $327.73 and a 1 year high of $550.76. The company has a market capitalization of $26.84 billion, a price-to-earnings ratio of -79.78 and a beta of 0.65.

argenx (NASDAQ:ARGX) last announced its earnings results on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $412.51 million during the quarter, compared to analysts’ expectations of $404.03 million. During the same period in the previous year, the firm earned ($0.52) EPS. Equities analysts expect that argenx will post -2.75 earnings per share for the current year.

Institutional Trading of argenx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position 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 last quarter. Artisan Partners Limited Partnership grew its holdings in shares of argenx by 12.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock worth $1,207,666,000 after purchasing an additional 346,178 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of argenx by 24.8% during the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock worth $872,690,000 after purchasing an additional 439,889 shares during the last quarter. Capital World Investors increased its position in shares of argenx by 37.0% during the fourth quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock worth $746,099,000 after purchasing an additional 530,181 shares in the last quarter. Finally, Avoro Capital Advisors LLC lifted its holdings in shares of argenx by 0.3% in the 1st quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock valued at $487,609,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.