argenx SE (NASDAQ:ARGX) Receives $535.37 Average Price Target from Analysts

argenx SE (NASDAQ:ARGX) has been given a consensus recommendation of “Moderate Buy” by the twenty-one research firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $540.37.

ARGX has been the subject of several research analyst reports. Morgan Stanley reduced their price target on shares of argenx from $515.00 to $510.00 and set an “overweight” rating for the company in a research report on Tuesday, May 28th. Stifel Nicolaus raised their target price on argenx from $485.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Robert W. Baird lifted their price target on argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a research note on Monday. Bank of America restated a “buy” rating and issued a $607.00 price objective (up previously from $535.00) on shares of argenx in a report on Monday, June 24th. Finally, Oppenheimer raised shares of argenx from a “market perform” rating to an “outperform” rating and set a $546.00 target price for the company in a report on Tuesday, July 23rd.

argenx Price Performance

ARGX opened at $509.21 on Friday. The firm has a fifty day moving average price of $421.43 and a 200 day moving average price of $396.68. argenx has a 1 year low of $327.73 and a 1 year high of $532.59. The stock has a market cap of $30.45 billion, a P/E ratio of -89.97 and a beta of 0.64.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. The company had revenue of $489.43 million for the quarter, compared to the consensus estimate of $436.66 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same quarter in the prior year, the business posted ($1.69) earnings per share. Equities analysts expect that argenx will post -2.59 EPS for the current year.

Hedge Funds Weigh In On argenx

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its position in shares of argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares during the period. J.Safra Asset Management Corp raised its holdings in argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after acquiring an additional 59 shares in the last quarter. GAMMA Investing LLC grew its holdings in argenx by 420.0% during the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 63 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of argenx in the 1st quarter valued at approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of argenx in the 4th quarter valued at $60,000. 60.32% of the stock is currently owned by hedge funds and other 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.