Guggenheim Increases argenx (NASDAQ:ARGX) Price Target to $665.00

argenx (NASDAQ:ARGX) had its price objective upped by stock analysts at Guggenheim from $585.00 to $665.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 10.12% from the stock’s previous close.

Several other brokerages also recently issued reports on ARGX. Wells Fargo & Company raised their price objective on shares of argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays raised argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Citigroup upped their price objective on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Raymond James reiterated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of argenx from $500.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $596.78.

argenx Trading Up 3.0 %

NASDAQ:ARGX traded up $17.59 during midday trading on Friday, hitting $603.89. 278,428 shares of the company traded hands, compared to its average volume of 308,375. The firm has a market capitalization of $36.11 billion, a P/E ratio of -686.24 and a beta of 0.63. The firm’s fifty day moving average is $536.55 and its 200-day moving average is $463.44. argenx has a 12-month low of $327.73 and a 12-month high of $610.73.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted ($1.25) earnings per share. On average, research analysts expect that argenx will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in argenx by 49.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock worth $2,167,235,000 after purchasing an additional 1,830,651 shares during the last quarter. Janus Henderson Group PLC increased its position in argenx by 24.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after buying an additional 439,889 shares in the last quarter. Clearbridge Investments LLC raised its stake in argenx by 36.5% in the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock valued at $234,766,000 after buying an additional 159,480 shares during the last quarter. Perpetual Ltd acquired a new stake in argenx in the third quarter worth about $76,314,000. Finally, Logos Global Management LP purchased a new stake in shares of argenx during the second quarter worth about $58,055,000. 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.