argenx (NASDAQ:ARGX) Price Target Raised to $635.00 at Citigroup

argenx (NASDAQ:ARGX) had its target price hoisted by Citigroup from $512.00 to $635.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 16.89% from the company’s previous close.

A number of other equities analysts also recently commented on ARGX. Guggenheim reaffirmed a “buy” rating and set a $585.00 target price on shares of argenx in a research note on Thursday, September 26th. Wedbush lifted their price target on shares of argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Oppenheimer upgraded shares of argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price target for the company in a research report on Tuesday, July 23rd. Stifel Nicolaus lifted their price target on shares of argenx from $485.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of argenx from $500.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $550.44.

argenx Price Performance

ARGX stock traded up $2.62 during midday trading on Thursday, hitting $543.23. 107,713 shares of the stock traded hands, compared to its average volume of 310,947. The firm has a market cap of $32.28 billion, a P/E ratio of -95.98 and a beta of 0.63. The stock’s fifty day simple moving average is $530.80 and its 200-day simple moving average is $451.66. argenx has a 1-year low of $327.73 and a 1-year high of $554.74.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $1.34. The business had revenue of $489.43 million for the quarter, compared to the consensus estimate of $436.66 million. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same period last year, the firm posted ($1.69) earnings per share. On average, research analysts predict that argenx will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Institutional investors have recently modified their holdings of the company. J.Safra Asset Management Corp lifted its holdings in argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after purchasing an additional 59 shares during the period. Blue Trust Inc. raised its holdings in argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after buying an additional 62 shares during the period. GAMMA Investing LLC increased its holdings in shares of argenx by 420.0% in the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 63 shares during the period. Mather Group LLC. acquired a new position in shares of argenx in the 1st quarter valued at about $38,000. Finally, Point72 Hong Kong Ltd acquired a new position in argenx in the second quarter worth approximately $76,000. 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.