Oppenheimer Issues Positive Forecast for argenx (NASDAQ:ARGX) Stock Price

argenx (NASDAQ:ARGX) had its price target upped by equities researchers at Oppenheimer from $675.00 to $704.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 13.80% from the stock’s current price.

Several other research firms have also commented on ARGX. Wolfe Research raised argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 target price on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. William Blair reissued an “outperform” rating on shares of argenx in a research report on Friday. Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $439.00 to $715.00 in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, argenx currently has a consensus rating of “Moderate Buy” and an average target price of $661.17.

argenx Stock Performance

Shares of ARGX traded down $6.08 during midday trading on Friday, hitting $618.62. The company had a trading volume of 195,907 shares, compared to its average volume of 270,645. argenx has a 1 year low of $349.86 and a 1 year high of $678.21. The firm has a market capitalization of $37.59 billion, a P/E ratio of -703.45 and a beta of 0.58. The company’s 50-day simple moving average is $642.61 and its 200-day simple moving average is $589.72.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $761.22 million during the quarter, compared to the consensus estimate of $678.52 million. Equities analysts predict that argenx will post 3.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

Institutional investors have recently added to or reduced their stakes in the stock. GeoWealth Management LLC grew its stake in shares of argenx by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after purchasing an additional 18 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of argenx during the fourth quarter worth $37,000. Global Retirement Partners LLC grew its position in argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock valued at $38,000 after buying an additional 48 shares during the last quarter. FIL Ltd acquired a new position in argenx in the 4th quarter valued at $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in argenx during the 4th quarter worth $38,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.