argenx (NASDAQ:ARGX) Price Target Raised to $670.00

argenx (NASDAQ:ARGX) had its target price upped by JPMorgan Chase & Co. from $640.00 to $670.00 in a research report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Guggenheim raised their target price on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial raised their price objective on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JMP Securities lifted their target price on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their target price on argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, HC Wainwright lifted their target price on argenx from $533.00 to $617.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $615.50.

argenx Stock Performance

Shares of ARGX stock opened at $591.44 on Monday. The stock’s fifty day moving average price is $545.48 and its two-hundred day moving average price is $472.18. The company has a market cap of $35.37 billion, a PE ratio of -672.09 and a beta of 0.61. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $611.22.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter last year, the business posted ($1.25) EPS. On average, equities analysts predict that argenx will post 2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

A number of hedge funds have recently added to or reduced their stakes in ARGX. Price T Rowe Associates Inc. MD boosted its stake in argenx by 49.8% during the 1st 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 purchasing an additional 1,830,651 shares during the last quarter. Janus Henderson Group PLC boosted its stake in argenx by 24.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after purchasing an additional 439,889 shares during the last quarter. Clearbridge Investments LLC boosted its stake in argenx by 36.5% during the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock valued at $234,766,000 after purchasing an additional 159,480 shares during the last quarter. Perpetual Ltd acquired a new position in argenx during the 3rd quarter valued at about $76,314,000. Finally, Logos Global Management LP acquired a new position in argenx during the 2nd quarter valued at about $58,055,000. 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.