Wells Fargo & Company Boosts argenx (NASDAQ:ARGX) Price Target to $741.00

argenx (NASDAQ:ARGX) had its price target raised by analysts at Wells Fargo & Company from $723.00 to $741.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 18.62% from the stock’s current price.

A number of other equities analysts have also weighed in on ARGX. Wedbush reiterated an “outperform” rating and set a $655.00 price objective on shares of argenx in a research note on Tuesday, December 3rd. Piper Sandler lifted their price objective on argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Guggenheim lifted their price objective on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Evercore ISI lifted their price target on argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, HC Wainwright lifted their price objective on argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, argenx has an average rating of “Moderate Buy” and an average target price of $661.17.

argenx Price Performance

Shares of ARGX stock opened at $624.67 on Friday. The firm has a market capitalization of $37.96 billion, a price-to-earnings ratio of -709.85 and a beta of 0.58. The business has a fifty day moving average of $642.62 and a 200 day moving average of $590.74. argenx has a 1 year low of $349.86 and a 1 year high of $678.21.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARGX. Stifel Financial Corp raised its position in argenx by 15.3% in the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock valued at $4,788,000 after purchasing an additional 1,170 shares during the period. FMR LLC raised its position in argenx by 35.9% in the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after purchasing an additional 1,265,486 shares during the period. Simplify Asset Management Inc. raised its position in argenx by 64.0% in the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock valued at $1,311,000 after purchasing an additional 944 shares during the period. Stephens Inc. AR purchased a new stake in argenx in the fourth quarter valued at approximately $310,000. Finally, Ritholtz Wealth Management raised its position in argenx by 85.5% in the fourth quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock valued at $552,000 after purchasing an additional 414 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.