JMP Securities Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its target price hoisted by investment analysts at JMP Securities from $606.00 to $696.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 4.63% from the stock’s previous close.

A number of other analysts also recently commented on the stock. Robert W. Baird downgraded shares of argenx from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $515.00 to $650.00 in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Truist Financial upped their price target on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Evercore ISI boosted their price objective on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Three 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 MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and an average price target of $658.39.

argenx Price Performance

Shares of ARGX opened at $665.19 on Tuesday. argenx has a 12 month low of $349.86 and a 12 month high of $678.21. The stock has a fifty day moving average price of $616.41 and a 200 day moving average price of $552.71. The company has a market cap of $40.16 billion, a P/E ratio of -755.90 and a beta of 0.59.

argenx (NASDAQ:ARGX) last released 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 company had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the prior year, the business posted ($1.25) earnings per share. As a group, research analysts anticipate that argenx will post 2.2 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of argenx by 35.9% during the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after buying an additional 1,265,486 shares during the period. Janus Henderson Group PLC raised its holdings 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 purchasing an additional 10,975 shares during the last quarter. Clearbridge Investments LLC boosted its position in argenx by 3.6% during the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after purchasing an additional 21,189 shares during the last quarter. Wellington Management Group LLP raised its position in argenx by 13.0% during the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after acquiring an additional 55,617 shares in the last quarter. Finally, Sei Investments Co. increased its position in argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after buying an additional 50,477 shares during the last quarter. Institutional investors 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.