argenx (NASDAQ:ARGX) Price Target Raised to $542.00

argenx (NASDAQ:ARGX) had its target price hoisted by Wells Fargo & Company from $478.00 to $542.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

ARGX has been the topic of a number of other reports. HC Wainwright restated a buy rating and set a $448.00 target price on shares of argenx in a report on Friday, June 14th. Scotiabank upped their target price on shares of argenx from $402.00 to $408.00 and gave the company a sector perform rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. lowered their price objective on argenx from $560.00 to $500.00 and set an overweight rating on the stock in a research report on Monday, May 13th. Truist Financial upped their price target on shares of argenx from $370.00 to $440.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Finally, JMP Securities lowered their price target on shares of argenx from $471.00 to $468.00 and set a market outperform rating on the stock in a research report on Friday, May 10th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, argenx has a consensus rating of Moderate Buy and a consensus target price of $525.42.

argenx Price Performance

ARGX stock opened at $445.88 on Monday. The business has a 50-day moving average of $379.85 and a 200-day moving average of $386.89. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $550.76. The stock has a market capitalization of $26.50 billion, a P/E ratio of -78.78 and a beta of 0.65.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.33). The company had revenue of $412.51 million for the quarter, compared to analyst estimates of $404.03 million. argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. During the same period last year, the company posted ($0.52) earnings per share. Equities analysts expect that argenx will post -2.89 EPS for the current year.

Institutional Investors Weigh In On argenx

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of argenx by 49.8% during the first 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 in the last quarter. Capital World Investors raised its holdings in argenx by 37.0% in the 4th quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock valued at $746,099,000 after buying an additional 530,181 shares during the last quarter. Janus Henderson Group PLC raised its holdings in argenx by 24.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after buying an additional 439,889 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in argenx by 12.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock worth $1,207,666,000 after buying an additional 346,178 shares during the period. Finally, Avoro Capital Advisors LLC grew its holdings in argenx by 23.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock worth $469,666,000 after acquiring an additional 234,567 shares during the last quarter. Institutional investors 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.