Wedbush Raises argenx (NASDAQ:ARGX) Price Target to $560.00

argenx (NASDAQ:ARGX) had its target price raised by Wedbush from $519.00 to $560.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently commented on ARGX. Bank of America reiterated a buy rating and set a $607.00 price objective (up previously from $535.00) on shares of argenx in a research report on Monday, June 24th. Evercore ISI increased their price objective on argenx from $478.00 to $533.00 and gave the company an outperform rating in a research report on Friday, July 12th. Piper Sandler increased their price objective on argenx from $522.00 to $535.00 and gave the company an overweight rating in a research report on Monday, June 24th. Truist Financial boosted their target price on shares of argenx from $480.00 to $540.00 and gave the company a buy rating in a research note on Monday, July 22nd. Finally, JMP Securities cut their target price on shares of argenx from $471.00 to $468.00 and set a market outperform rating on the stock in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, argenx has a consensus rating of Moderate Buy and an average target price of $539.05.

argenx Price Performance

Shares of NASDAQ:ARGX opened at $494.46 on Friday. argenx has a 12 month low of $327.73 and a 12 month high of $532.59. The stock has a market cap of $29.39 billion, a price-to-earnings ratio of -87.36 and a beta of 0.64. The stock’s 50 day moving average price is $415.63 and its 200 day moving average price is $394.89.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of ($0.89) by $1.34. The firm had revenue of $489.43 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned ($1.69) earnings per share. On average, sell-side analysts expect that argenx will post -2.59 EPS for the current year.

Hedge Funds Weigh In On argenx

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares in the last quarter. J.Safra Asset Management Corp increased its position in argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after purchasing an additional 59 shares in the last quarter. GAMMA Investing LLC increased its position in argenx by 420.0% during the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 63 shares in the last quarter. Mather Group LLC. acquired a new position in argenx during the 1st quarter worth approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in argenx in the 4th quarter valued at approximately $60,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.