argenx (NASDAQ:ARGX) Price Target Raised to $620.00

argenx (NASDAQ:ARGX) had its target price upped by Piper Sandler from $553.00 to $620.00 in a research note released on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms have also issued reports on ARGX. JMP Securities raised their price target on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a report on Friday. William Blair upgraded argenx from a “market perform” rating to an “outperform” rating in a research note on Friday. Oppenheimer upped their price target on argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a research note on Friday. Wells Fargo & Company increased their price target on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Robert W. Baird downgraded shares of argenx from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $515.00 to $650.00 in a research report on Friday. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $596.78.

argenx Price Performance

ARGX stock opened at $595.58 on Friday. The business has a 50 day simple moving average of $539.46 and a 200-day simple moving average of $466.48. argenx has a twelve month low of $327.73 and a twelve month high of $610.73.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 0.96%. During the same quarter in the prior year, the business earned ($1.25) EPS. On average, equities analysts anticipate that argenx will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenx

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. boosted its position in argenx by 620.0% during the second 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 raised its stake in shares of argenx by 590.0% during the 2nd 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 last quarter. GAMMA Investing LLC boosted its position in shares of argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after buying an additional 40 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in argenx in the 2nd quarter valued at about $76,000. Finally, Cromwell Holdings LLC increased its holdings in argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.