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

argenx (NASDAQ:ARGX) had its price objective lifted by investment analysts at JMP Securities from $606.00 to $696.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 4.63% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $439.00 to $715.00 in a report on Tuesday, November 5th. Wolfe Research upgraded shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective for the company in a research report on Tuesday, November 12th. Wedbush reissued an “outperform” rating and issued a $655.00 target price on shares of argenx in a research report on Tuesday, December 3rd. Robert W. Baird downgraded 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. Finally, Piper Sandler increased their price target on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $658.39.

argenx Stock Down 0.1 %

Shares of NASDAQ ARGX opened at $665.19 on Tuesday. argenx has a 52 week low of $349.86 and a 52 week high of $678.21. The stock has a market capitalization of $40.16 billion, a price-to-earnings ratio of -755.90 and a beta of 0.59. The firm has a 50-day simple moving average of $616.41 and a 200-day simple moving average of $552.71.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share 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 analysts’ expectations of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same quarter in the prior year, the company posted ($1.25) EPS. As a group, equities research analysts expect that argenx will post 2.2 EPS for the current year.

Institutional Investors Weigh In On argenx

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new position in shares of argenx in the second quarter valued at approximately $76,000. Cromwell Holdings LLC raised its holdings in argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after buying an additional 66 shares during the period. GAMMA Investing LLC boosted 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 purchasing an additional 56 shares during the period. Blue Trust Inc. raised its holdings in shares of argenx by 413.9% during the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company’s stock valued at $201,000 after buying an additional 298 shares during the period. Finally, Keudell Morrison Wealth Management acquired a new position in argenx during the 3rd quarter worth approximately $207,000. 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.