argenx (NASDAQ:ARGX) Price Target Raised to $725.00

argenx (NASDAQ:ARGX) had its target price lifted by Piper Sandler from $620.00 to $725.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Wolfe Research raised shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 target price for the company in a research report on Tuesday, November 12th. Wedbush reissued an “outperform” rating and set a $655.00 target price on shares of argenx in a research report on Tuesday, December 3rd. Citigroup increased their target price on shares of argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Oppenheimer reissued an “outperform” rating and set a $675.00 target price (up previously from $646.00) on shares of argenx in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $645.61.

argenx Stock Performance

Shares of ARGX opened at $649.26 on Tuesday. The company has a 50 day moving average price of $612.30 and a 200-day moving average price of $546.56. argenx has a fifty-two week low of $349.86 and a fifty-two week high of $663.48. The stock has a market capitalization of $39.19 billion, a PE ratio of -737.80 and a beta of 0.59.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the prior year, the company earned ($1.25) EPS. Equities research analysts forecast that argenx will post 2.2 EPS for the current year.

Institutional Trading of argenx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in argenx during the second quarter worth $76,000. Cromwell Holdings LLC boosted its holdings in argenx by 73.3% during the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after buying an additional 66 shares in the last quarter. GAMMA Investing LLC boosted its holdings in argenx by 47.5% during the third quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after buying an additional 56 shares in the last quarter. Blue Trust Inc. boosted its holdings in argenx by 413.9% during the third quarter. Blue Trust Inc. now owns 370 shares of the company’s stock worth $201,000 after buying an additional 298 shares in the last quarter. Finally, Gallacher Capital Management LLC purchased a new stake in argenx during the second quarter worth $202,000. Institutional investors and hedge funds 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.