Oppenheimer Increases argenx (NASDAQ:ARGX) Price Target to $646.00

argenx (NASDAQ:ARGX) had its target price lifted by analysts at Oppenheimer from $560.00 to $646.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 11.03% from the company’s previous close.

ARGX has been the topic of several other research reports. William Blair upgraded argenx from a “market perform” rating to an “outperform” rating in a research report on Friday. Wells Fargo & Company lifted their price target on shares of argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their target price on argenx from $500.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Truist Financial raised their price objective on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday. Four research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $582.50.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $581.80 on Friday. The firm has a fifty day moving average of $536.55 and a 200 day moving average of $463.44. The firm has a market cap of $34.79 billion, a PE ratio of -165.28 and a beta of 0.63. argenx has a one year low of $327.73 and a one year high of $589.60.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same quarter in the previous year, the company earned ($1.25) earnings per share. On average, equities analysts predict that argenx will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Keudell Morrison Wealth Management acquired a new position in argenx in the third quarter valued at $207,000. Nvwm LLC purchased a new position in argenx during the 3rd quarter worth approximately $533,000. Janney Montgomery Scott LLC lifted its stake in argenx by 201.2% in the third quarter. Janney Montgomery Scott LLC now owns 2,072 shares of the company’s stock valued at $1,123,000 after buying an additional 1,384 shares during the last quarter. US Bancorp DE boosted its holdings in shares of argenx by 7.8% in the third quarter. US Bancorp DE now owns 4,350 shares of the company’s stock valued at $2,358,000 after acquiring an additional 316 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in argenx by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,174 shares of the company’s stock valued at $3,347,000 after purchasing an additional 2,410 shares during the last quarter. 60.32% of the stock is 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.