Evercore ISI Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its price target raised by Evercore ISI from $675.00 to $706.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Wolfe Research upgraded shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price target for the company in a research report on Tuesday, November 12th. JMP Securities lifted their price target on shares of argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Guggenheim lifted their price target on shares of argenx from $585.00 to $665.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company lifted their price target on shares of argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, argenx presently has an average rating of “Moderate Buy” and an average target price of $630.42.

argenx Stock Up 1.5 %

Shares of NASDAQ:ARGX opened at $605.92 on Thursday. argenx has a 12-month low of $327.73 and a 12-month high of $611.22. The stock has a market cap of $36.23 billion, a PE ratio of -688.55 and a beta of 0.61. The business has a 50 day moving average of $557.73 and a 200-day moving average of $489.55.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted ($1.25) earnings per share. Equities research analysts expect that argenx will post 2.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Profund Advisors LLC grew its holdings in argenx by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 973 shares of the company’s stock worth $418,000 after acquiring an additional 28 shares during the period. Raymond James Trust N.A. grew its holdings in argenx by 6.0% during the 3rd quarter. Raymond James Trust N.A. now owns 495 shares of the company’s stock worth $268,000 after acquiring an additional 28 shares during the period. Wealth Alliance grew its holdings in argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock worth $270,000 after acquiring an additional 29 shares during the period. GAMMA Investing LLC grew its holdings in argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after acquiring an additional 40 shares during the period. Finally, Toronto Dominion Bank grew its holdings in argenx by 16.5% during the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock worth $119,000 after acquiring an additional 43 shares during the period. 60.32% of the stock is owned by institutional investors.

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.