Oppenheimer Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its target price hoisted by Oppenheimer from $560.00 to $646.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

ARGX has been the topic of a number of other reports. Evercore ISI lifted their price objective on shares of argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. HC Wainwright lifted their price target on shares of argenx from $533.00 to $617.00 and gave the company a “buy” rating in a research report on Friday. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Raymond James restated a “strong-buy” rating and set a $605.00 price objective on shares of argenx in a research note on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $598.44.

argenx Stock Down 1.2 %

Shares of ARGX stock opened at $588.67 on Friday. argenx has a 12-month low of $327.73 and a 12-month high of $610.73. The firm has a 50 day moving average price of $539.46 and a two-hundred day moving average price of $467.19. The company has a market capitalization of $35.20 billion, a PE 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 0.96% and a negative net margin of 2.11%. During the same period in the previous year, the company posted ($1.25) EPS. As a group, research analysts expect that argenx will post -0.36 EPS for the current year.

Institutional Investors Weigh In On argenx

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