argenx (NASDAQ:ARGX) Price Target Raised to $1,100.00

argenx (NASDAQ:ARGX) had its price objective hoisted by equities research analysts at Guggenheim from $775.00 to $1,100.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 91.87% from the company’s current price.

Other analysts also recently issued research reports about the company. JMP Securities lifted their price target on argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 14th. HC Wainwright boosted their price target on shares of argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Piper Sandler raised 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. Wedbush reiterated an “outperform” rating and issued a $655.00 target price on shares of argenx in a research report on Tuesday, December 3rd. Finally, Wolfe Research raised argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 target price for the company in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $687.00.

argenx Stock Performance

NASDAQ ARGX traded down $20.90 during trading hours on Monday, hitting $573.31. The company had a trading volume of 120,749 shares, compared to its average volume of 281,825. argenx has a 52 week low of $349.86 and a 52 week high of $678.21. The firm has a market capitalization of $34.83 billion, a price-to-earnings ratio of -650.71 and a beta of 0.59. The firm has a 50 day simple moving average of $641.45 and a 200 day simple moving average of $594.49.

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

Institutional Trading of argenx

Hedge funds and other institutional investors have recently modified their holdings of the business. GeoWealth Management LLC raised its stake in argenx by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after buying an additional 18 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in argenx by 5.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 380 shares of the company’s stock worth $234,000 after purchasing an additional 20 shares during the last quarter. SG Americas Securities LLC grew its position in argenx by 6.2% in the 4th quarter. SG Americas Securities LLC now owns 358 shares of the company’s stock worth $220,000 after purchasing an additional 21 shares during the period. Farther Finance Advisors LLC raised its stake in argenx by 38.2% during the 4th quarter. Farther Finance Advisors LLC now owns 76 shares of the company’s stock valued at $47,000 after buying an additional 21 shares during the last quarter. Finally, Dynasty Wealth Management LLC increased its position in argenx by 3.4% during the fourth quarter. Dynasty Wealth Management LLC now owns 677 shares of the company’s stock valued at $416,000 after acquiring an additional 22 shares during the last quarter. 60.32% of the stock is 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.