Piper Sandler Boosts argenx (NASDAQ:ARGX) Price Target to $415.00

argenx (NASDAQ:ARGXGet Rating) had its price objective upped by equities researchers at Piper Sandler from $375.00 to $415.00 in a report issued on Friday, The Fly reports. Piper Sandler’s price objective would indicate a potential upside of 31.34% from the company’s previous close.

Several other brokerages also recently commented on ARGX. SVB Leerink restated an “outperform” rating on shares of argenx in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $400.00 price objective on shares of argenx in a research note on Friday, March 4th. Morgan Stanley upgraded shares of argenx from an “equal weight” rating to an “overweight” rating and set a $375.00 target price for the company in a research note on Tuesday, May 3rd. Deutsche Bank Aktiengesellschaft upgraded argenx from a “hold” rating to a “buy” rating in a research report on Friday, May 13th. Finally, JPMorgan Chase & Co. raised their price target on argenx from €350.00 ($372.34) to €370.00 ($393.62) and gave the company an “overweight” rating in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $364.53.

NASDAQ ARGX opened at $315.97 on Friday. argenx has a twelve month low of $249.50 and a twelve month high of $356.78. The stock has a market cap of $16.94 billion, a P/E ratio of -27.38 and a beta of 1.11. The company’s 50-day simple moving average is $311.00 and its 200 day simple moving average is $301.22.

argenx (NASDAQ:ARGXGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($4.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($5.08) by $0.72. argenx had a negative return on equity of 32.54% and a negative net margin of 147.47%. During the same period in the previous year, the firm posted ($0.81) earnings per share. As a group, equities analysts predict that argenx will post -19.44 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC raised its holdings in argenx by 23.4% in the first quarter. Jennison Associates LLC now owns 1,017,415 shares of the company’s stock worth $320,801,000 after purchasing an additional 192,844 shares during the period. Goldman Sachs Group Inc. lifted its holdings in argenx by 62.7% during the first quarter. Goldman Sachs Group Inc. now owns 334,169 shares of the company’s stock worth $105,366,000 after acquiring an additional 128,759 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in argenx by 80.9% during the third quarter. Point72 Asset Management L.P. now owns 287,047 shares of the company’s stock worth $86,688,000 after acquiring an additional 128,347 shares in the last quarter. BlackRock Inc. grew its stake in argenx by 17.3% in the third quarter. BlackRock Inc. now owns 761,983 shares of the company’s stock valued at $230,118,000 after acquiring an additional 112,106 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of argenx by 19.8% in the third quarter. Wellington Management Group LLP now owns 668,696 shares of the company’s stock worth $201,945,000 after acquiring an additional 110,349 shares in the last quarter. Hedge funds and other institutional investors own 58.76% of the company’s stock.

argenx Company Profile (Get Rating)

argenx SE, a biotechnology company, focuses on developing various therapies for the treatment of autoimmune diseases in the United States, the Netherlands, Belgium, Japan, Switzerland, Germany and France. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, and chronic inflammatory demyelinating polyneuropathy in Phase III clinical trials; bullous pemphigoid and idiopathic inflammatory myopathy in Phase II/III clinical trials; and ENHANZE SC in Pre-clinical study.

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