Truist Financial Increases argenx (NASDAQ:ARGX) Price Target to $660.00

argenx (NASDAQ:ARGX) had its price target increased by Truist Financial from $540.00 to $660.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

ARGX has been the subject of a number of other reports. Robert W. Baird increased their target price on argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Wedbush increased their price objective on argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Raymond James reiterated a “strong-buy” rating and set a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. Evercore ISI increased 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. Finally, Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $587.22.

argenx Trading Up 1.8 %

Shares of ARGX stock traded up $10.78 on Thursday, reaching $597.08. The company had a trading volume of 73,696 shares, compared to its average volume of 307,332. The company has a 50-day moving average of $536.55 and a 200-day moving average of $463.44. argenx has a 12 month low of $327.73 and a 12 month high of $598.42. The stock has a market cap of $35.70 billion, a PE ratio of -670.59 and a beta of 0.63.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the prior year, the business earned ($1.25) EPS. Sell-side analysts anticipate that argenx will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in 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 in the last quarter. J.Safra Asset Management Corp increased its stake in argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after acquiring an additional 59 shares during the last quarter. GAMMA Investing LLC increased its stake in argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after acquiring an additional 40 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in argenx in the 2nd quarter worth about $76,000. Finally, Cromwell Holdings LLC increased its position in shares of argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other 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.