argenx (NASDAQ:ARGX) Price Target Raised to $646.00

argenx (NASDAQ:ARGXGet Free Report) had its price objective raised by stock analysts at Oppenheimer from $560.00 to $646.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 8.47% from the stock’s current price.

Several other brokerages also recently weighed in on ARGX. William Blair upgraded argenx from a “market perform” rating to an “outperform” rating in a research note on Friday. Raymond James restated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a research note on Thursday, October 10th. Guggenheim reiterated a “buy” rating and issued a $585.00 price objective on shares of argenx in a research report on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Evercore ISI raised their price objective on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $596.78.

Check Out Our Latest Research Report on ARGX

argenx Stock Performance

ARGX opened at $595.58 on Friday. The stock has a 50-day moving average of $539.46 and a 200-day moving average of $465.81. argenx has a 52-week low of $327.73 and a 52-week high of $610.73. The company has a market cap of $35.61 billion, a PE ratio of -676.80 and a beta of 0.63.

argenx (NASDAQ:ARGXGet Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.10 by $1.29. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. During the same quarter in the prior year, the company earned ($1.25) EPS. On average, research analysts predict that argenx will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Hedge funds and other institutional investors have recently modified their holdings of the stock. TD Asset Management Inc raised its position in argenx by 15.4% in the 1st quarter. TD Asset Management Inc now owns 223,695 shares of the company’s stock valued at $88,073,000 after purchasing an additional 29,810 shares during the last quarter. Seven Eight Capital LP raised its position in argenx by 66.4% in the 1st quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock valued at $1,224,000 after purchasing an additional 1,241 shares during the last quarter. Clearbridge Investments LLC raised its position in argenx by 36.5% in 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. FORA Capital LLC bought a new position in argenx in the 1st quarter valued at $2,024,000. Finally, Mediolanum International Funds Ltd bought a new position in argenx in the 1st quarter valued at $4,570,000. Institutional investors own 60.32% of the company’s stock.

About argenx

(Get Free Report)

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.

See Also

Analyst Recommendations for argenx (NASDAQ:ARGX)

Receive News & Ratings for argenx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for argenx and related companies with MarketBeat.com's FREE daily email newsletter.