argenx (NASDAQ:ARGX) Price Target Raised to $646.00

argenx (NASDAQ:ARGX) had its target price raised by Oppenheimer from $560.00 to $646.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Guggenheim reissued a “buy” rating and set a $585.00 price objective on shares of argenx in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on shares of argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Raymond James reiterated a “strong-buy” rating and set a $605.00 price target on shares of argenx in a report on Thursday, October 10th. Truist Financial increased their price objective on shares of argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, argenx has a consensus rating of “Moderate Buy” and an average target price of $596.78.

argenx Stock Performance

NASDAQ ARGX opened at $595.58 on Friday. argenx has a 1-year low of $327.73 and a 1-year high of $610.73. The business has a 50 day simple moving average of $539.46 and a two-hundred day simple moving average of $466.48.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 0.96%. The firm had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. During the same period last year, the firm posted ($1.25) earnings per share. As a group, equities analysts anticipate that argenx will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARGX. Price T Rowe Associates Inc. MD lifted 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 worth $2,167,235,000 after purchasing an additional 1,830,651 shares during the period. Janus Henderson Group PLC raised its stake in argenx by 24.8% in the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock worth $872,690,000 after buying an additional 439,889 shares in the last quarter. Avoro Capital Advisors LLC lifted its holdings in argenx by 0.3% during the first quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock worth $487,609,000 after buying an additional 3,900 shares during the period. Clearbridge Investments LLC boosted its position in argenx by 3.6% during the 2nd quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after acquiring an additional 21,189 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of argenx by 15.2% in the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after acquiring an additional 50,477 shares during the period. 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.