argenx (NASDAQ:ARGX) Stock Price Expected to Rise, Evercore ISI Analyst Says

argenx (NASDAQ:ARGX) had its target price raised by equities researchers at Evercore ISI from $675.00 to $706.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target points to a potential upside of 19.29% from the company’s current price.

Other analysts have also recently issued reports about the stock. Robert W. Baird cut shares of argenx from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $515.00 to $650.00 in a research note on Friday, November 1st. Piper Sandler increased their price objective on shares of argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Guggenheim increased their price objective on shares of argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays raised shares of argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, argenx has an average rating of “Moderate Buy” and a consensus target price of $628.89.

argenx Trading Up 3.0 %

Shares of ARGX stock opened at $591.82 on Thursday. argenx has a 12 month low of $327.73 and a 12 month high of $611.22. The stock has a market cap of $35.39 billion, a P/E ratio of -672.52 and a beta of 0.61. The company has a 50 day simple moving average of $555.08 and a two-hundred day simple moving average of $485.94.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the prior year, the company earned ($1.25) earnings per share. As a group, equities analysts forecast that argenx will post 2.2 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Several institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its position in argenx by 32.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,460 shares of the company’s stock valued at $575,000 after buying an additional 361 shares during the period. Advisors Asset Management Inc. boosted its position in argenx by 79.3% in the 1st quarter. Advisors Asset Management Inc. now owns 588 shares of the company’s stock valued at $232,000 after buying an additional 260 shares during the period. Toronto Dominion Bank boosted its position in argenx by 16.5% in the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock valued at $119,000 after buying an additional 43 shares during the period. Avoro Capital Advisors LLC boosted its position in argenx by 0.3% in the 1st quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock valued at $487,609,000 after buying an additional 3,900 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position 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 during the period. 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.