Guggenheim Raises argenx (NASDAQ:ARGX) Price Target to $665.00

argenx (NASDAQ:ARGX) had its price objective hoisted by Guggenheim from $585.00 to $665.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on ARGX. Raymond James restated a “strong-buy” rating and issued a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. William Blair upgraded argenx from a “market perform” rating to an “outperform” rating in a research report on Friday. HC Wainwright boosted their target price on argenx from $533.00 to $617.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird downgraded argenx from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $515.00 to $650.00 in a research report on Friday. Finally, JMP Securities boosted their target price on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, argenx currently has a consensus rating of “Moderate Buy” and a consensus price target of $598.44.

argenx Trading Down 1.2 %

argenx stock opened at $588.67 on Friday. The firm has a 50 day moving average of $539.46 and a 200 day moving average of $467.19. The firm has a market capitalization of $35.20 billion, a price-to-earnings ratio of -668.94 and a beta of 0.61. argenx has a 12-month low of $327.73 and a 12-month high of $610.73.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data 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 firm 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 0.96%. During the same period in the prior year, the company posted ($1.25) earnings per share. On average, analysts predict that argenx will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in argenx by 49.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock worth $2,167,235,000 after buying an additional 1,830,651 shares during the period. Janus Henderson Group PLC lifted its holdings in argenx by 24.8% during the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock worth $872,690,000 after buying an additional 439,889 shares during the period. Avoro Capital Advisors LLC lifted its holdings in argenx by 0.3% during the first quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock worth $487,609,000 after buying an additional 3,900 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of argenx by 3.6% during the 2nd quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after purchasing an additional 21,189 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of argenx by 15.2% during the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after purchasing an additional 50,477 shares during the last quarter. Institutional investors 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.