argenx (NASDAQ:ARGX) Price Target Raised to $706.00 at Evercore ISI

argenx (NASDAQ:ARGX) had its price target lifted by Evercore ISI from $675.00 to $706.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $617.00 price target on shares of argenx in a research note on Wednesday. Robert W. Baird lowered shares of argenx from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $515.00 to $650.00 in a research report on Friday, November 1st. Citigroup upped their price objective on shares of argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Truist Financial raised their target price on shares of argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $630.42.

argenx Trading Up 1.3 %

Shares of ARGX stock traded up $7.85 during trading hours on Thursday, reaching $604.59. 80,749 shares of the company’s stock were exchanged, compared to its average volume of 309,017. The stock has a market cap of $36.15 billion, a PE ratio of -682.21 and a beta of 0.61. The stock’s fifty day moving average price is $555.08 and its two-hundred day moving average price is $485.94. argenx has a 1 year low of $327.73 and a 1 year high of $611.22.

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

Institutional Investors Weigh In On argenx

A number of institutional investors have recently added to or reduced their stakes in ARGX. M&T Bank Corp lifted its holdings in argenx by 7.2% during the third quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock valued at $2,335,000 after purchasing an additional 289 shares in the last quarter. MML Investors Services LLC raised its position in shares of argenx by 16.9% during the 3rd quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock worth $4,715,000 after purchasing an additional 1,255 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in argenx by 2.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,800 shares of the company’s stock valued at $4,768,000 after buying an additional 234 shares in the last quarter. XTX Topco Ltd lifted its stake in argenx by 50.7% in the 3rd quarter. XTX Topco Ltd now owns 5,030 shares of the company’s stock valued at $2,727,000 after buying an additional 1,693 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in argenx by 13.0% in the 3rd quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after buying an additional 55,617 shares during the last quarter. 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.