argenx (NASDAQ:ARGX) Price Target Raised to $660.00 at Truist Financial

argenx (NASDAQ:ARGX) had its target price upped by equities research analysts at Truist Financial from $540.00 to $660.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 10.82% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 target price on the stock in a research note on Tuesday, July 23rd. Wedbush boosted their price target on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Guggenheim restated a “buy” rating and set a $585.00 price target on shares of argenx in a research note on Thursday, September 26th. Finally, Wells Fargo & Company boosted their price target on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $596.78.

argenx Price Performance

Shares of ARGX opened at $595.58 on Thursday. argenx has a 1 year low of $327.73 and a 1 year high of $610.73. The company has a 50 day simple moving average of $537.88 and a two-hundred day simple moving average of $464.29. The firm has a market cap of $35.61 billion, a P/E ratio of -676.80 and a beta of 0.63.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.10 by $1.29. The company had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same period in the previous year, the firm earned ($1.25) earnings per share. On average, sell-side analysts anticipate that argenx will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in shares of argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after acquiring an additional 62 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. GAMMA Investing LLC boosted its stake in argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after purchasing an additional 40 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of argenx during the 2nd quarter valued at $76,000. Finally, Cromwell Holdings LLC lifted its position in shares of argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors 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.