argenx (NASDAQ:ARGX) Stock Price Expected to Rise, Citigroup Analyst Says

argenx (NASDAQ:ARGX) had its price target upped by equities research analysts at Citigroup from $681.00 to $796.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 33.51% from the stock’s previous close.

A number of other research analysts have also weighed in on ARGX. HC Wainwright reissued a “buy” rating and issued a $720.00 target price on shares of argenx in a report on Tuesday, April 8th. William Blair reaffirmed an “outperform” rating on shares of argenx in a report on Friday, February 28th. Truist Financial reissued a “buy” rating and set a $700.00 price objective (up from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Oppenheimer raised their price objective on argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company boosted their target price on argenx from $723.00 to $741.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $699.28.

argenx Stock Performance

Shares of NASDAQ:ARGX opened at $596.20 on Thursday. The firm has a market cap of $36.23 billion, a price-to-earnings ratio of -677.50 and a beta of 0.60. The firm has a fifty day moving average price of $602.53 and a 200 day moving average price of $605.54. argenx has a fifty-two week low of $352.77 and a fifty-two week high of $678.21.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. The firm had revenue of $761.22 million during the quarter, compared to analyst estimates of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. As a group, research analysts predict that argenx will post 3.13 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Several institutional investors have recently bought and sold shares of the business. GeoWealth Management LLC increased its holdings in shares of argenx by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after acquiring an additional 18 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of argenx during the fourth quarter valued at about $37,000. Global Retirement Partners LLC boosted its holdings in shares of argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock valued at $38,000 after buying an additional 48 shares in the last quarter. FIL Ltd purchased a new position in shares of argenx in the 4th quarter worth approximately $38,000. Finally, Rakuten Securities Inc. raised its stake in shares of argenx by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock worth $36,000 after acquiring an additional 22 shares in the last quarter. 60.32% of the stock is 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, 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.