argenx (NASDAQ:ARGX) Price Target Raised to $639.00

argenx (NASDAQ:ARGX) had its price target lifted by Wells Fargo & Company from $547.00 to $639.00 in a report published on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently weighed in on ARGX. Oppenheimer lifted their target price on argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a research report on Friday. HC Wainwright lifted their price objective on argenx from $533.00 to $617.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial upped their target price on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday. Barclays raised argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Finally, Piper Sandler boosted their price target on shares of argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a report on Friday. Five investment 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $596.78.

argenx Stock Performance

Shares of argenx stock opened at $595.58 on Friday. argenx has a 1 year low of $327.73 and a 1 year high of $610.73. The company’s fifty day simple moving average is $539.46 and its 200-day simple moving average is $466.48.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 0.96%. The company had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same period last year, the business posted ($1.25) EPS. Equities analysts forecast that argenx will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in argenx by 49.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after purchasing an additional 1,830,651 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of argenx by 24.8% in the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after buying an additional 439,889 shares in the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of argenx by 0.3% in the first quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock valued at $487,609,000 after buying an additional 3,900 shares during the last quarter. Clearbridge Investments LLC lifted its position in argenx by 3.6% during the 2nd quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock worth $265,535,000 after buying an additional 21,189 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in argenx by 15.2% during the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after acquiring an additional 50,477 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors.

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.