argenx (NASDAQ:ARGX) Price Target Raised to $600.00 at Piper Sandler

argenx (NASDAQ:ARGX) had its price target hoisted by Piper Sandler from $595.00 to $600.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on ARGX. 888 reiterated a maintains rating on shares of argenx in a research report on Friday, May 5th. Citigroup increased their target price on shares of argenx from $450.00 to $592.00 in a report on Tuesday, July 18th. Truist Financial lifted their price target on shares of argenx from $420.00 to $440.00 in a report on Friday, May 5th. Robert W. Baird raised their price objective on shares of argenx from $460.00 to $566.00 in a research report on Tuesday, July 18th. Finally, Morgan Stanley increased their price target on argenx from $452.00 to $602.00 and gave the stock an overweight rating in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $522.73.

argenx Stock Down 0.2 %

NASDAQ ARGX opened at $502.49 on Thursday. The company has a 50-day moving average price of $464.23 and a 200-day moving average price of $410.47. argenx has a 52 week low of $333.07 and a 52 week high of $550.76. The firm has a market capitalization of $29.42 billion, a P/E ratio of -70.08 and a beta of 0.74.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, July 27th. The company reported ($1.69) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.69). The company had revenue of $281.16 million during the quarter, compared to analyst estimates of $258.32 million. argenx had a negative net margin of 47.28% and a negative return on equity of 27.99%. During the same period in the previous year, the business posted ($3.81) earnings per share. As a group, equities research analysts anticipate that argenx will post -5.33 EPS for the current year.

Institutional Investors Weigh In On argenx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York Life Investment Management LLC increased its position in shares of argenx by 2.9% during the 2nd quarter. New York Life Investment Management LLC now owns 927 shares of the company’s stock valued at $361,000 after purchasing an additional 26 shares during the last quarter. Creative Planning raised its stake in shares of argenx by 3.0% in the fourth quarter. Creative Planning now owns 1,006 shares of the company’s stock valued at $381,000 after acquiring an additional 29 shares during the period. Snowden Capital Advisors LLC lifted its holdings in shares of argenx by 1.9% in the 1st quarter. Snowden Capital Advisors LLC now owns 1,920 shares of the company’s stock worth $715,000 after acquiring an additional 35 shares during the last quarter. KB Financial Partners LLC lifted its holdings in shares of argenx by 112.5% in the 1st quarter. KB Financial Partners LLC now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 45 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of argenx by 5.5% during the 2nd quarter. Pacer Advisors Inc. now owns 919 shares of the company’s stock worth $358,000 after purchasing an additional 48 shares during the period. 52.77% of the stock is currently owned by hedge funds and other institutional investors.

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, the Netherlands, Belgium, Japan, Switzerland, Germany, France, Canada, the United Kingdom, and Italy. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, pemphigus foliaceus, chronic inflammatory demyelinating polyneuropathy, bullous pemphigoid, and idiopathic inflammatory myopathy; and ENHANZE SC.