Piper Sandler Boosts argenx (NASDAQ:ARGX) Price Target to $725.00

argenx (NASDAQ:ARGX) had its price target upped by Piper Sandler from $620.00 to $725.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 11.67% from the company’s current price.

ARGX has been the subject of several other reports. JPMorgan Chase & Co. raised their price objective on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Wedbush reissued an “outperform” rating and set a $655.00 price target on shares of argenx in a research note on Tuesday, December 3rd. JMP Securities raised their price target on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, HC Wainwright reissued a “buy” rating and set a $617.00 price target on shares of argenx in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $645.61.

argenx Price Performance

NASDAQ:ARGX opened at $649.26 on Tuesday. The firm has a market capitalization of $39.19 billion, a price-to-earnings ratio of -737.80 and a beta of 0.59. argenx has a 1 year low of $349.86 and a 1 year high of $663.48. The business has a 50 day simple moving average of $611.04 and a 200-day simple moving average of $545.85.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same period last year, the company earned ($1.25) EPS. As a group, analysts expect that argenx will post 2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cromwell Holdings LLC lifted its position in argenx by 73.3% during 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 period. GAMMA Investing LLC lifted its position in argenx by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after acquiring an additional 56 shares during the period. Point72 Hong Kong Ltd acquired a new stake in argenx during the 2nd quarter worth about $76,000. Fulton Bank N.A. acquired a new stake in argenx during the 4th quarter worth about $226,000. Finally, Blue Trust Inc. lifted its position in argenx by 413.9% during the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company’s stock worth $201,000 after acquiring an additional 298 shares during the period. 60.32% of the stock is currently owned by hedge funds and other 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.