Truist Financial Increases argenx (NASDAQ:ARGX) Price Target to $480.00

argenx (NASDAQ:ARGX) had its price target upped by stock analysts at Truist Financial from $440.00 to $480.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 7.65% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Bank of America reissued a “buy” rating and issued a $607.00 price target (up from $535.00) on shares of argenx in a report on Monday. Wedbush restated an “outperform” rating and set a $521.00 target price on shares of argenx in a research report on Thursday, April 18th. Morgan Stanley decreased their target price on shares of argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 28th. HC Wainwright restated a “buy” rating and set a $448.00 target price on shares of argenx in a research report on Monday. Finally, JMP Securities decreased their target price 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, argenx presently has an average rating of “Moderate Buy” and an average price target of $525.42.

argenx Stock Performance

Shares of ARGX stock opened at $445.88 on Tuesday. The stock has a market cap of $26.50 billion, a price-to-earnings ratio of -78.78 and a beta of 0.65. argenx has a 52-week low of $327.73 and a 52-week high of $550.76. The firm’s 50-day moving average is $379.85 and its 200-day moving average is $386.89.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.33). The company had revenue of $412.51 million during the quarter, compared to the consensus estimate 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 in the prior year, the company earned ($0.52) earnings per share. Sell-side analysts predict that argenx will post -2.89 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in argenx by 49.8% in the 1st 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 during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of argenx by 12.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock valued at $1,207,666,000 after acquiring an additional 346,178 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of argenx by 24.8% during the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after acquiring an additional 439,889 shares during the last quarter. Capital World Investors raised its stake in shares of argenx by 37.0% during the fourth quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock valued at $746,099,000 after acquiring an additional 530,181 shares during the last quarter. Finally, Avoro Capital Advisors LLC raised its stake in shares of argenx by 0.3% during the first quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock valued at $487,609,000 after acquiring an additional 3,900 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.