Wells Fargo & Company Boosts argenx (NASDAQ:ARGX) Price Target to $723.00

argenx (NASDAQ:ARGX) had its target price boosted by research analysts at Wells Fargo & Company from $639.00 to $723.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 15.90% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Citigroup lifted their price target on shares of argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Robert W. Baird cut shares of argenx from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $515.00 to $650.00 in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price target on argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. JMP Securities boosted their price objective on argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Finally, Wedbush reiterated an “outperform” rating and set a $655.00 target price on shares of argenx in a research report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $639.78.

argenx Price Performance

NASDAQ:ARGX opened at $623.82 on Thursday. argenx has a one year low of $327.73 and a one year high of $644.97. The business has a fifty day moving average price of $589.50 and a 200-day moving average price of $520.73. The firm has a market capitalization of $37.66 billion, a price-to-earnings ratio of -708.89 and a beta of 0.59.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the prior year, the business posted ($1.25) earnings per share. On average, equities research analysts expect that argenx will post 2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

Several hedge funds have recently added to or reduced their stakes in ARGX. Profund Advisors LLC boosted its position in shares of argenx by 3.0% during the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock valued at $418,000 after buying an additional 28 shares during the period. Raymond James Trust N.A. raised its holdings in shares of argenx by 6.0% in the third quarter. Raymond James Trust N.A. now owns 495 shares of the company’s stock worth $268,000 after buying an additional 28 shares during the period. Wealth Alliance lifted its stake in shares of argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock worth $270,000 after acquiring an additional 29 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in argenx by 8.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 528 shares of the company’s stock valued at $286,000 after acquiring an additional 43 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in argenx by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock valued at $94,000 after acquiring an additional 56 shares during the period. 60.32% of the stock is currently 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.