Wells Fargo & Company Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its price objective upped by stock analysts at Wells Fargo & Company from $723.00 to $741.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 19.78% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Evercore ISI boosted their price objective on argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Baird R W cut shares of argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. HC Wainwright raised their price objective on shares of argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler boosted their price objective on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Finally, Wedbush reiterated an “outperform” rating and set a $655.00 target price on shares of argenx in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, argenx has an average rating of “Moderate Buy” and a consensus target price of $661.17.

argenx Price Performance

Shares of NASDAQ ARGX traded down $6.08 during midday trading on Friday, reaching $618.62. 195,907 shares of the stock were exchanged, compared to its average volume of 270,645. argenx has a 12 month low of $349.86 and a 12 month high of $678.21. The company has a market capitalization of $37.59 billion, a price-to-earnings ratio of -703.45 and a beta of 0.58. The business has a 50-day simple moving average of $642.61 and a two-hundred day simple moving average of $589.72.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The firm had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. Equities research analysts expect that argenx will post 3.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

Hedge funds and other institutional investors have recently made changes to their positions in the company. Stifel Financial Corp lifted its stake in argenx by 15.3% in the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock valued at $4,788,000 after acquiring an additional 1,170 shares during the last quarter. FMR LLC raised its holdings in shares of argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after purchasing an additional 1,265,486 shares during the period. Simplify Asset Management Inc. lifted its stake in argenx by 64.0% in the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock valued at $1,311,000 after purchasing an additional 944 shares during the last quarter. Stephens Inc. AR bought a new position in argenx during the fourth quarter worth about $310,000. Finally, Ritholtz Wealth Management increased its position in argenx by 85.5% during the fourth quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock worth $552,000 after buying an additional 414 shares during the last quarter. 60.32% of the stock is owned by 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.