Stifel Nicolaus Boosts argenx (NASDAQ:ARGX) Price Target to $500.00

argenx (NASDAQ:ARGX) had its price objective increased by Stifel Nicolaus from $485.00 to $500.00 in a research note published on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

ARGX has been the subject of a number of other research reports. Piper Sandler boosted their price objective on argenx from $522.00 to $535.00 and gave the company an overweight rating in a research note on Monday. JMP Securities lowered their target price on argenx from $471.00 to $468.00 and set a market outperform rating on the stock in a research note on Friday, May 10th. Scotiabank increased their price target on argenx from $402.00 to $408.00 and gave the stock a sector perform rating in a report on Tuesday, March 26th. Morgan Stanley dropped their price objective on shares of argenx from $515.00 to $510.00 and set an overweight rating on the stock in a research note on Tuesday, May 28th. Finally, HC Wainwright reaffirmed a buy rating and issued a $448.00 target price on shares of argenx in a report on Monday. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $525.42.

argenx Stock Down 0.2 %

NASDAQ ARGX opened at $444.94 on Monday. argenx has a 52 week low of $327.73 and a 52 week high of $550.76. The firm has a 50 day moving average of $381.58 and a two-hundred day moving average of $387.30. The stock has a market capitalization of $26.44 billion, a PE ratio of -78.61 and a beta of 0.65.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. The business had revenue of $412.51 million for the quarter, compared to analysts’ expectations of $404.03 million. During the same period last year, the firm earned ($0.52) earnings per share. On average, equities research analysts expect that argenx will post -2.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in argenx by 6.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,341 shares of the company’s stock valued at $659,000 after buying an additional 84 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of argenx during the 3rd quarter worth approximately $433,000. Envestnet Asset Management Inc. lifted its position in argenx by 144.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 43,887 shares of the company’s stock valued at $21,576,000 after purchasing an additional 25,940 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of argenx by 42.9% during the third quarter. Acadian Asset Management LLC now owns 806 shares of the company’s stock worth $396,000 after buying an additional 242 shares during the period. Finally, Mariner LLC boosted its position in argenx by 36.1% during the 3rd quarter. Mariner LLC now owns 2,764 shares of the company’s stock worth $1,359,000 after acquiring an additional 733 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.