argenx (NASDAQ:ARGX) Price Target Raised to $635.00 at Citigroup

argenx (NASDAQ:ARGX) had its price target increased by equities researchers at Citigroup from $512.00 to $635.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 16.89% from the stock’s current price.

Several other research firms have also commented on ARGX. HC Wainwright boosted their price target on argenx from $504.00 to $533.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price target for the company in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft downgraded argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Guggenheim reaffirmed a “buy” rating and issued a $585.00 target price on shares of argenx in a report on Thursday, September 26th. Finally, Truist Financial lifted their price objective on argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $550.44.

argenx Stock Up 0.5 %

argenx stock traded up $2.62 during mid-day trading on Thursday, hitting $543.23. The company had a trading volume of 107,713 shares, compared to its average volume of 310,947. The stock has a market cap of $32.28 billion, a price-to-earnings ratio of -95.98 and a beta of 0.63. The business has a fifty day moving average of $530.80 and a 200 day moving average of $451.66. argenx has a 1 year low of $327.73 and a 1 year high of $554.74.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The company had revenue of $489.43 million during the quarter, compared to the consensus estimate of $436.66 million. During the same quarter last year, the company earned ($1.69) earnings per share. Equities analysts anticipate that argenx will post -0.37 earnings per share for the current year.

Institutional Trading of argenx

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of argenx by 26.2% during the fourth quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock valued at $106,204,000 after acquiring an additional 57,956 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of argenx by 420.0% in the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 63 shares during the last quarter. Mather Group LLC. bought a new position in argenx during the 1st quarter valued at about $38,000. Park Avenue Securities LLC grew its holdings in argenx by 20.7% during the 1st quarter. Park Avenue Securities LLC now owns 1,235 shares of the company’s stock valued at $486,000 after purchasing an additional 212 shares during the last quarter. Finally, Steph & Co. grew its holdings in argenx by 27.1% during the 1st quarter. Steph & Co. now owns 413 shares of the company’s stock valued at $163,000 after purchasing an additional 88 shares during the last quarter. 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.