Guggenheim Boosts argenx (NASDAQ:ARGX) Price Target to $585.00

argenx (NASDAQ:ARGX) had its price target raised by Guggenheim from $545.00 to $585.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on ARGX. William Blair reissued a market perform rating on shares of argenx in a report on Monday, June 17th. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a hold rating to a buy rating in a research report on Thursday. Morgan Stanley decreased their price objective on shares of argenx from $515.00 to $510.00 and set an overweight rating for the company in a research report on Tuesday, May 28th. Wedbush raised their target price on argenx from $519.00 to $560.00 and gave the company an outperform rating in a research report on Friday. Finally, JPMorgan Chase & Co. reduced their price target on argenx from $560.00 to $500.00 and set an overweight rating for the company in a report on Monday, May 13th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $539.05.

argenx Price Performance

ARGX stock opened at $494.46 on Friday. The firm’s fifty day simple moving average is $415.63 and its 200-day simple moving average is $394.89. argenx has a 12 month low of $327.73 and a 12 month high of $532.59. The company has a market capitalization of $29.39 billion, a P/E ratio of -87.36 and a beta of 0.64.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of ($0.89) by $1.34. The company had revenue of $489.43 million for the quarter, compared to the consensus estimate of $436.66 million. argenx had a negative return on equity of 9.97% and a negative net margin of 12.31%. During the same period last year, the firm earned ($1.69) EPS. As a group, sell-side analysts forecast that argenx will post -2.59 earnings per share for the current year.

Institutional Trading of argenx

Hedge funds have recently bought and sold shares of the business. J.Safra Asset Management Corp increased its holdings in shares of argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares during the last quarter. Blue Trust Inc. grew its holdings in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after buying an additional 62 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of argenx by 420.0% in the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 63 shares during the last quarter. Mather Group LLC. purchased a new position in shares of argenx during the 1st quarter worth $38,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of argenx during the 4th quarter valued at about $60,000. 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.