argenx (NASDAQ:ARGX) Price Target Raised to $696.00

argenx (NASDAQ:ARGX) had its price objective lifted by JMP Securities from $606.00 to $696.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities research analysts have also weighed in on ARGX. Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Robert W. Baird downgraded shares of argenx from an “outperform” rating to a “neutral” rating and increased their target price for the company from $515.00 to $650.00 in a research report on Friday, November 1st. Truist Financial boosted their price target on shares of argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $658.39.

argenx Stock Down 0.8 %

Shares of argenx stock opened at $659.81 on Tuesday. argenx has a 52-week low of $349.86 and a 52-week high of $678.21. The company has a market capitalization of $39.83 billion, a P/E ratio of -749.78 and a beta of 0.59. The company has a 50 day moving average of $619.30 and a 200 day moving average of $554.23.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) 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 business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the previous year, the company earned ($1.25) EPS. As a group, research analysts anticipate that argenx will post 2.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ARGX. FMR LLC lifted its position in argenx by 35.9% in the third 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. Lord Abbett & CO. LLC purchased a new position in shares of argenx during the 3rd quarter worth approximately $88,339,000. Perpetual Ltd acquired a new stake in shares of argenx in the 3rd quarter valued at approximately $76,314,000. Logos Global Management LP purchased a new stake in shares of argenx in the second quarter valued at approximately $58,055,000. Finally, Wellington Management Group LLP grew its holdings in argenx by 13.0% during the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after acquiring an additional 55,617 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.