argenx (NASDAQ:ARGX) PT Raised to $560.00 at Wedbush

argenx (NASDAQ:ARGX) had its target price upped by Wedbush from $519.00 to $560.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

ARGX has been the subject of a number of other reports. Piper Sandler increased their price target on argenx from $522.00 to $535.00 and gave the company an overweight rating in a research note on Monday, June 24th. Stifel Nicolaus increased their price target on argenx from $485.00 to $500.00 and gave the company a buy rating in a research note on Monday, June 24th. Evercore ISI raised their target price on argenx from $478.00 to $533.00 and gave the stock an outperform rating in a research report on Friday, July 12th. Morgan Stanley lowered their target price on argenx from $515.00 to $510.00 and set an overweight rating for the company in a research report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. lowered their target price on argenx from $560.00 to $500.00 and set an overweight rating for the company in a research report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, argenx currently has a consensus rating of Moderate Buy and a consensus target price of $540.37.

argenx Price Performance

NASDAQ ARGX opened at $499.05 on Friday. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $532.59. The stock has a market capitalization of $29.84 billion, a PE ratio of -88.17 and a beta of 0.64. The business has a fifty day moving average price of $418.38 and a two-hundred day moving average price of $395.72.

argenx (NASDAQ:ARGX) last announced its quarterly 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 analysts’ expectations of $436.66 million. During the same period in the prior year, the company earned ($1.69) EPS. As a group, sell-side analysts expect that argenx will post -2.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ARGX. Price T Rowe Associates Inc. MD grew 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 buying an additional 1,830,651 shares in the last quarter. Capital World Investors grew its position in shares of argenx by 37.0% during the 4th quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock valued at $746,099,000 after purchasing an additional 530,181 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of argenx by 24.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after purchasing an additional 439,889 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of argenx by 12.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock valued at $1,207,666,000 after purchasing an additional 346,178 shares in the last quarter. Finally, Avoro Capital Advisors LLC grew its position in shares of argenx by 23.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock valued at $469,666,000 after purchasing an additional 234,567 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

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.