argenx (NASDAQ:ARGX) Given New $725.00 Price Target at Piper Sandler

argenx (NASDAQ:ARGX) had its price target lifted by Piper Sandler from $620.00 to $725.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also weighed in on ARGX. Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $617.00 price objective on shares of argenx in a research note on Wednesday, November 20th. William Blair raised argenx from a “market perform” rating to an “outperform” rating in a research report on Friday, November 1st. Citigroup increased their price target on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Wedbush restated an “outperform” rating and issued a $655.00 price objective on shares of argenx in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, argenx has an average rating of “Moderate Buy” and an average target price of $645.61.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $648.62 on Tuesday. The business has a 50 day simple moving average of $609.09 and a 200 day simple moving average of $545.12. argenx has a 52 week low of $349.86 and a 52 week high of $659.95. The stock has a market cap of $39.16 billion, a price-to-earnings ratio of -737.07 and a beta of 0.59.

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

Institutional Trading of argenx

A number of institutional investors and hedge funds have recently modified their holdings of ARGX. Stifel Financial Corp boosted its stake in argenx by 15.3% during the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock worth $4,788,000 after buying an additional 1,170 shares in the last quarter. FMR LLC lifted its holdings 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 acquiring an additional 1,265,486 shares during the period. Simplify Asset Management Inc. boosted its position in shares of argenx by 64.0% during the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock valued at $1,311,000 after acquiring an additional 944 shares in the last quarter. Perpetual Ltd bought a new stake in argenx in the third quarter valued at about $76,314,000. Finally, Varma Mutual Pension Insurance Co raised its position in argenx by 20.0% in the second quarter. Varma Mutual Pension Insurance Co now owns 6,000 shares of the company’s stock worth $2,580,000 after purchasing an additional 1,000 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

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.