argenx (NASDAQ:ARGX) Given New $639.00 Price Target at Wells Fargo & Company

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

Several other analysts also recently issued reports on the company. William Blair upgraded argenx from a “market perform” rating to an “outperform” rating in a report on Friday. Citigroup upped their target price on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Finally, JMP Securities lifted their price objective on shares of argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, argenx has an average rating of “Moderate Buy” and a consensus target price of $598.44.

argenx Price Performance

NASDAQ ARGX opened at $588.67 on Friday. argenx has a 1-year low of $327.73 and a 1-year high of $610.73. The firm has a market capitalization of $35.20 billion, a P/E ratio of -668.94 and a beta of 0.61. The business’s 50-day simple moving average is $539.46 and its 200-day simple moving average is $467.19.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the previous year, the company posted ($1.25) earnings per share. On average, equities research analysts expect that argenx will post -0.36 EPS for the current fiscal year.

Institutional Trading of argenx

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