argenx (NASDAQ:ARGX) Given New $540.00 Price Target at Truist Financial

argenx (NASDAQ:ARGX) had its price objective boosted by equities research analysts at Truist Financial from $480.00 to $540.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 16.95% from the company’s current price.

ARGX has been the subject of a number of other research reports. HC Wainwright raised their price target on shares of argenx from $490.00 to $504.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. JMP Securities decreased their price objective on shares of argenx from $471.00 to $468.00 and set a “market outperform” rating for the company in a research report on Friday, May 10th. Bank of America reaffirmed a “buy” rating and set a $607.00 price objective (up from $535.00) on shares of argenx in a research report on Monday, June 24th. JPMorgan Chase & Co. reduced their price target on shares of argenx from $560.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Finally, 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 report on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $536.63.

argenx Trading Down 2.0 %

ARGX traded down $9.59 during midday trading on Monday, hitting $461.73. 161,914 shares of the company were exchanged, compared to its average volume of 315,376. The company’s 50 day simple moving average is $404.75 and its 200 day simple moving average is $392.16. The firm has a market capitalization of $27.44 billion, a price-to-earnings ratio of -81.53 and a beta of 0.64. argenx has a 1-year low of $327.73 and a 1-year high of $539.78.

argenx (NASDAQ:ARGX) last posted its earnings results on Monday, May 13th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business earned ($0.52) earnings per share. On average, equities analysts anticipate that argenx will post -2.93 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its stake in shares of argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after buying an additional 62 shares in the last quarter. J.Safra Asset Management Corp boosted 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 during the last quarter. GAMMA Investing LLC boosted its holdings in shares of argenx by 420.0% during the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 63 shares in the last quarter. Mather Group LLC. acquired a new position in shares of argenx during the first quarter worth approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of argenx during the fourth quarter worth approximately $60,000. 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.