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

argenx (NASDAQ:ARGX) had its target price increased by research analysts at Oppenheimer from $675.00 to $704.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 12.70% from the stock’s previous close.

ARGX has been the subject of a number of other reports. Scotiabank raised shares of argenx from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. Evercore ISI lifted their price target on shares of argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wolfe Research raised shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price target for the company in a report on Tuesday, November 12th. William Blair restated an “outperform” rating on shares of argenx in a research report on Friday. Finally, Wedbush restated an “outperform” rating and issued a $655.00 price objective on shares of argenx in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, argenx currently has a consensus rating of “Moderate Buy” and an average price target of $661.17.

argenx Stock Down 0.0 %

ARGX stock opened at $624.67 on Friday. The company has a 50 day moving average of $642.62 and a two-hundred day moving average of $590.74. argenx has a 12-month low of $349.86 and a 12-month high of $678.21. The company has a market cap of $37.96 billion, a price-to-earnings ratio of -709.85 and a beta of 0.58.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. On average, research analysts anticipate that argenx will post 3.13 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Brucke Financial Inc. bought a new stake in shares of argenx in the fourth quarter worth $412,000. Mackenzie Financial Corp grew its stake in shares of argenx by 81.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,449 shares of the company’s stock valued at $2,736,000 after acquiring an additional 1,996 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of argenx in the fourth quarter valued at about $416,000. Vise Technologies Inc. grew its stake in shares of argenx by 6.8% in the fourth quarter. Vise Technologies Inc. now owns 799 shares of the company’s stock valued at $491,000 after acquiring an additional 51 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in argenx during the fourth quarter worth about $28,510,000. Institutional investors 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.