Evercore ISI Issues Positive Forecast for argenx (NASDAQ:ARGX) Stock Price

argenx (NASDAQ:ARGX) had its target price lifted by Evercore ISI from $675.00 to $706.00 in a research note published on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research analysts have also issued reports on the company. Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $439.00 to $715.00 in a research report on Tuesday, November 5th. Truist Financial raised their price target on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Piper Sandler raised their price target on argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $630.42.

argenx Stock Performance

Shares of ARGX opened at $605.92 on Thursday. The firm has a market capitalization of $36.23 billion, a price-to-earnings ratio of -688.55 and a beta of 0.61. The business’s fifty day moving average price is $557.73 and its two-hundred day moving average price is $489.55. argenx has a 52 week low of $327.73 and a 52 week high of $611.22.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same period last year, the company earned ($1.25) EPS. As a group, research analysts forecast that argenx will post 2.2 EPS for the current year.

Institutional Trading of argenx

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of argenx by 49.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after acquiring an additional 1,830,651 shares during the last quarter. FMR LLC increased its position in shares of 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 acquiring an additional 1,265,486 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of argenx by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock valued at $1,343,797,000 after acquiring an additional 10,975 shares during the last quarter. Avoro Capital Advisors LLC increased its position in shares of argenx by 0.3% in the first quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock valued at $487,609,000 after acquiring an additional 3,900 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of argenx by 3.6% in the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after acquiring an additional 21,189 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.