argenx (NASDAQ:ARGX) Price Target Raised to $725.00 at Piper Sandler

argenx (NASDAQ:ARGX) had its price objective hoisted by stock analysts at Piper Sandler from $620.00 to $725.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 11.67% from the stock’s previous close.

ARGX has been the subject of several other reports. Raymond James reiterated a “strong-buy” rating and set a $605.00 price objective on shares of argenx in a research note on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and set a $617.00 price objective on shares of argenx in a research note on Wednesday, November 20th. Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Robert W. Baird lowered argenx from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $515.00 to $650.00 in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted 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, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.61.

argenx Stock Up 0.1 %

Shares of ARGX stock opened at $649.26 on Tuesday. The stock has a market cap of $39.19 billion, a PE ratio of -737.80 and a beta of 0.59. The business has a 50-day simple moving average of $611.04 and a 200-day simple moving average of $545.85. argenx has a 52-week low of $349.86 and a 52-week high of $663.48.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating 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 firm had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. During the same quarter in the previous year, the business earned ($1.25) EPS. Sell-side analysts anticipate that argenx will post 2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARGX. Bank of New York Mellon Corp lifted its stake in argenx by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 5,671 shares of the company’s stock worth $2,439,000 after purchasing an additional 164 shares in the last quarter. Gallacher Capital Management LLC acquired a new stake in shares of argenx in the second quarter valued at $202,000. Varma Mutual Pension Insurance Co raised its stake in shares of argenx by 20.0% in the second quarter. Varma Mutual Pension Insurance Co now owns 6,000 shares of the company’s stock valued at $2,580,000 after acquiring an additional 1,000 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of argenx by 112.7% in the second quarter. Headlands Technologies LLC now owns 2,144 shares of the company’s stock valued at $922,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of argenx by 11.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 3,255 shares of the company’s stock valued at $1,400,000 after acquiring an additional 339 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.