argenx (NASDAQ:ARGX) Stock Price Expected to Rise, Evercore ISI Analyst Says

argenx (NASDAQ:ARGX) had its target price increased by stock analysts at Evercore ISI from $675.00 to $706.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 16.52% from the company’s previous close.

Several other research firms have also weighed in on ARGX. Citigroup upped their price objective on shares of argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wedbush upped their price objective on shares of argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and issued a $617.00 price objective on shares of argenx in a research note on Wednesday. Finally, Baird R W lowered shares of argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $630.42.

argenx Price Performance

ARGX stock opened at $605.92 on Thursday. argenx has a 52-week low of $327.73 and a 52-week high of $611.22. The company’s 50 day simple moving average is $556.37 and its 200-day simple moving average is $486.73. The firm has a market capitalization of $36.23 billion, a P/E ratio of -693.08 and a beta of 0.61.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) 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 1.45%. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same quarter in the previous year, the business earned ($1.25) earnings per share. Sell-side analysts predict that argenx will post 2.2 EPS for the current fiscal year.

Institutional Trading of argenx

Large investors have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after purchasing an additional 62 shares during the period. J.Safra Asset Management Corp boosted its holdings in argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares during the period. GAMMA Investing LLC boosted its holdings in argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after purchasing an additional 40 shares during the period. Point72 Hong Kong Ltd bought a new stake in argenx in the 2nd quarter valued at $76,000. Finally, Cromwell Holdings LLC boosted its holdings in argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after purchasing an additional 66 shares during the period. 60.32% of the stock is owned by institutional investors.

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.