argenx (NASDAQ:ARGX) Price Target Increased to $542.00 by Analysts at Wells Fargo & Company

argenx (NASDAQ:ARGX) had its target price upped by Wells Fargo & Company from $478.00 to $542.00 in a research note released on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on ARGX. Wedbush restated an outperform rating and issued a $521.00 price target on shares of argenx in a report on Thursday, April 18th. Piper Sandler restated an overweight rating and issued a $522.00 price target on shares of argenx in a report on Monday, June 17th. Scotiabank raised their price target on shares of argenx from $402.00 to $408.00 and gave the stock a sector perform rating in a report on Tuesday, March 26th. JMP Securities reduced their price target on shares of argenx from $471.00 to $468.00 and set a market outperform rating for the company in a report on Friday, May 10th. Finally, HC Wainwright restated a buy rating and issued a $448.00 price target on shares of argenx in a report on Friday, June 14th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, argenx has an average rating of Moderate Buy and an average price target of $523.42.

argenx Stock Performance

ARGX stock opened at $440.59 on Monday. The company has a fifty day moving average price of $376.64 and a 200-day moving average price of $386.49. The company has a market capitalization of $26.18 billion, a P/E ratio of -77.84 and a beta of 0.65. argenx has a 52-week low of $327.73 and a 52-week high of $550.76.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $412.51 million for the quarter, compared to the consensus estimate of $404.03 million. During the same period in the previous year, the business posted ($0.52) EPS. As a group, sell-side analysts forecast that argenx will post -2.75 earnings per share for the current fiscal year.

Institutional Trading of argenx

Several hedge funds have recently added to or reduced their stakes in ARGX. PNC Financial Services Group Inc. raised its position in argenx by 6.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,341 shares of the company’s stock worth $659,000 after acquiring an additional 84 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of argenx in the third quarter valued at approximately $433,000. Envestnet Asset Management Inc. raised its position in shares of argenx by 144.5% in the third quarter. Envestnet Asset Management Inc. now owns 43,887 shares of the company’s stock valued at $21,576,000 after purchasing an additional 25,940 shares during the period. Acadian Asset Management LLC raised its position in shares of argenx by 42.9% in the third quarter. Acadian Asset Management LLC now owns 806 shares of the company’s stock valued at $396,000 after purchasing an additional 242 shares during the period. Finally, Mariner LLC raised its position in shares of argenx by 36.1% in the third quarter. Mariner LLC now owns 2,764 shares of the company’s stock valued at $1,359,000 after purchasing an additional 733 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.