argenx (NASDAQ:ARGX) Price Target Raised to $670.00

argenx (NASDAQ:ARGX) had its target price hoisted by JPMorgan Chase & Co. from $640.00 to $670.00 in a research note released on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also weighed in on ARGX. Evercore ISI boosted their price objective on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a report on Friday, July 12th. Truist Financial boosted their price objective on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Citigroup boosted their price objective on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays raised argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Finally, Robert W. Baird lowered argenx from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $515.00 to $650.00 in a report on Friday, November 1st. Four 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $615.50.

argenx Trading Down 2.2 %

ARGX stock opened at $588.97 on Monday. The firm has a 50 day simple moving average of $544.00 and a 200-day simple moving average of $471.34. The company has a market capitalization of $35.22 billion, a P/E ratio of -669.28 and a beta of 0.61. argenx has a twelve month low of $327.73 and a twelve month high of $611.22.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.29. The company had revenue of $588.88 million during the quarter, compared to analyst estimates 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 period last year, the business earned ($1.25) EPS. On average, research analysts predict that argenx will post -0.22 EPS for the current year.

Institutional Investors Weigh In On argenx

A number of hedge funds and other institutional investors have recently modified their holdings of ARGX. J.Safra Asset Management Corp grew its position in argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after buying an additional 59 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after acquiring an additional 62 shares during the period. GAMMA Investing LLC boosted its holdings in shares of argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after acquiring an additional 40 shares in the last quarter. Cromwell Holdings LLC increased its stake in shares of argenx by 73.3% during the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after acquiring an additional 66 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in argenx during the second quarter worth approximately $76,000. 60.32% of the stock is currently owned by institutional investors.

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.