argenx (NASDAQ:ARGX) Price Target Increased to $533.00 by Analysts at Evercore ISI

argenx (NASDAQ:ARGX) had its price target hoisted by Evercore ISI from $478.00 to $533.00 in a report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on ARGX. William Blair reissued a market perform rating on shares of argenx in a research report on Monday, June 17th. HC Wainwright reissued a buy rating and issued a $448.00 target price on shares of argenx in a research report on Monday, June 24th. Stifel Nicolaus boosted their target price on shares of argenx from $485.00 to $500.00 and gave the company a buy rating in a research report on Monday, June 24th. Morgan Stanley reduced their target price 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. Finally, Piper Sandler boosted their target price on shares of argenx from $522.00 to $535.00 and gave the company an overweight rating in a research report on Monday, June 24th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $530.53.

argenx Trading Down 1.0 %

NASDAQ ARGX opened at $461.94 on Friday. The company has a market cap of $27.45 billion, a PE ratio of -81.61 and a beta of 0.64. argenx has a 12 month low of $327.73 and a 12 month high of $550.76. The stock has a 50 day moving average of $398.13 and a 200-day moving average of $389.71.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.33). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The business had revenue of $412.51 million for the quarter, compared to analyst estimates of $404.03 million. During the same period in the prior year, the business earned ($0.52) EPS. As a group, sell-side analysts predict that argenx will post -2.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of argenx by 420.0% in the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 63 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of argenx in the fourth quarter worth $38,000. Mather Group LLC. purchased a new position in shares of argenx in the first quarter worth $38,000. Benjamin F. Edwards & Company Inc. purchased a new stake in argenx during the fourth quarter valued at $60,000. Finally, Lindbrook Capital LLC increased its position in argenx by 23.1% during the first quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock valued at $78,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenx Company Profile

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.