Wells Fargo & Company Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its target price increased by equities research analysts at Wells Fargo & Company from $639.00 to $723.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 15.90% from the company’s previous close.

ARGX has been the topic of several other reports. Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. JMP Securities increased their price objective on shares of argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. William Blair raised argenx from a “market perform” rating to an “outperform” rating in a research report on Friday, November 1st. Finally, Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $639.78.

argenx Stock Performance

argenx stock opened at $623.82 on Thursday. The company has a market capitalization of $37.66 billion, a PE ratio of -708.89 and a beta of 0.59. The company has a 50 day moving average price of $589.50 and a 200-day moving average price of $520.73. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $644.97.

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. 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 during the quarter, compared to analyst estimates of $543.29 million. During the same period in the previous year, the company posted ($1.25) EPS. On average, analysts forecast that argenx will post 2.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Profund Advisors LLC increased its position in shares of argenx by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 973 shares of the company’s stock valued at $418,000 after acquiring an additional 28 shares during the period. Raymond James Trust N.A. lifted its position 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 stake in argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after purchasing an additional 29 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of argenx by 8.9% in the third quarter. Hantz Financial Services Inc. now owns 528 shares of the company’s stock valued at $286,000 after purchasing an additional 43 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of argenx by 47.5% in the third quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after purchasing an additional 56 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.