argenx (NASDAQ:ARGX) Stock Price Expected to Rise, Piper Sandler Analyst Says

argenx (NASDAQ:ARGX) had its target price upped by Piper Sandler from $553.00 to $620.00 in a research report released on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

ARGX has been the subject of several other reports. Oppenheimer increased their price target on shares of argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a research note on Friday. William Blair upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a research report on Friday. Raymond James reaffirmed a “strong-buy” rating and issued a $605.00 price objective on shares of argenx in a research note on Thursday, October 10th. HC Wainwright upped their price objective on shares of argenx from $533.00 to $617.00 and gave the company a “buy” rating in a report on Friday. Finally, Wedbush upped their price objective on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Five research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $598.44.

argenx Stock Down 1.2 %

ARGX opened at $588.67 on Friday. The company’s 50-day moving average price is $539.46 and its two-hundred day moving average price is $467.19. argenx has a twelve month low of $327.73 and a twelve month high of $610.73. The stock has a market cap of $35.20 billion, a price-to-earnings ratio of -668.94 and a beta of 0.61.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 0.96%. During the same quarter in the previous year, the company earned ($1.25) EPS. As a group, sell-side analysts anticipate that argenx will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of argenx by 49.8% in the 1st 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 boosted its stake in shares of argenx by 24.8% in the first 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 during the period. Avoro Capital Advisors LLC raised its position in argenx by 0.3% during the first quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock valued at $487,609,000 after purchasing an additional 3,900 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of argenx by 3.6% during the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock worth $265,535,000 after buying an additional 21,189 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after buying an additional 50,477 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

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.