Guggenheim Increases argenx (NASDAQ:ARGX) Price Target to $665.00

argenx (NASDAQ:ARGX) had its target price lifted by research analysts at Guggenheim from $585.00 to $665.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 11.66% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Wedbush raised their price objective on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Robert W. Baird cut argenx from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $515.00 to $650.00 in a report on Friday. Wells Fargo & Company increased their price target on argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Truist Financial lifted their price objective on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, argenx has a consensus rating of “Moderate Buy” and an average price target of $596.78.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $595.58 on Friday. The business’s 50 day moving average price is $539.46 and its 200-day moving average price is $465.81. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $610.73. The company has a market cap of $35.61 billion, a price-to-earnings ratio of -676.80 and a beta of 0.63.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same period last year, the company earned ($1.25) earnings per share. Sell-side analysts predict that argenx will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On argenx

A number of large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares in the last quarter. J.Safra Asset Management Corp lifted its stake in shares of argenx by 590.0% during the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after buying an additional 59 shares during the period. GAMMA Investing LLC grew its holdings in shares of argenx by 51.3% during the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after buying an additional 40 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of argenx in the 2nd quarter valued at $76,000. Finally, Cromwell Holdings LLC raised its stake in argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors 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.