argenx (NASDAQ:ARGX) Price Target Raised to $500.00

argenx (NASDAQ:ARGX) had its target price raised by stock analysts at Stifel Nicolaus from $485.00 to $500.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 14.68% from the company’s previous close.

A number of other brokerages have also issued reports on ARGX. JMP Securities reduced their price target on argenx from $471.00 to $468.00 and set a “market outperform” rating for the company in a research report on Friday, May 10th. Robert W. Baird cut their price objective on argenx from $505.00 to $490.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Wells Fargo & Company upped their price objective on argenx from $478.00 to $542.00 and gave the company an “overweight” rating in a report on Monday. Scotiabank upped their price objective on argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a report on Tuesday, March 26th. Finally, HC Wainwright restated a “buy” rating and issued a $448.00 price objective on shares of argenx in a report on Monday. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $521.58.

argenx Price Performance

NASDAQ:ARGX opened at $436.00 on Monday. argenx has a 12-month low of $327.73 and a 12-month high of $550.76. The firm has a market capitalization of $25.91 billion, a P/E ratio of -76.94 and a beta of 0.65. The business has a 50 day simple moving average of $375.35 and a 200 day simple moving average of $386.61.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The company had revenue of $412.51 million for the quarter, compared to analyst estimates of $404.03 million. During the same quarter in the prior year, the firm earned ($0.52) EPS. Research analysts anticipate that argenx will post -2.75 EPS for the current fiscal year.

Institutional Trading of argenx

Several hedge funds have recently added to or reduced their stakes in ARGX. Wellington Management Group LLP lifted its position in shares of argenx by 26.2% in the 4th quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock worth $106,204,000 after acquiring an additional 57,956 shares during the period. Sectoral Asset Management Inc. lifted its position in shares of argenx by 717.2% during the 4th quarter. Sectoral Asset Management Inc. now owns 10,027 shares of the company’s stock worth $3,815,000 after buying an additional 8,800 shares during the period. Boxer Capital LLC lifted its position in shares of argenx by 88.2% during the 4th quarter. Boxer Capital LLC now owns 160,000 shares of the company’s stock worth $60,869,000 after buying an additional 75,000 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of argenx by 9.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 47,583 shares of the company’s stock worth $18,102,000 after buying an additional 3,967 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of argenx by 30.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock worth $5,505,000 after buying an additional 3,374 shares during the period. 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.