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

argenx (NASDAQ:ARGX) had its price target upped by equities researchers at Truist Financial from $540.00 to $660.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 13.84% from the company’s current price.

A number of other equities analysts also recently commented on ARGX. Deutsche Bank Aktiengesellschaft downgraded argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. HC Wainwright increased their price objective on argenx from $504.00 to $533.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price objective for the company in a report on Tuesday, July 23rd. JPMorgan Chase & Co. increased their target price on argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Guggenheim reissued a “buy” rating and issued a $585.00 target price on shares of argenx in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, argenx has a consensus rating of “Moderate Buy” and an average price target of $557.11.

argenx Trading Up 5.1 %

Shares of NASDAQ ARGX traded up $28.06 during midday trading on Thursday, hitting $579.77. 495,045 shares of the company’s stock were exchanged, compared to its average volume of 307,137. argenx has a 12-month low of $327.73 and a 12-month high of $589.60. The company has a market cap of $34.46 billion, a price-to-earnings ratio of -102.37 and a beta of 0.63. The business’s fifty day moving average price is $536.55 and its two-hundred day moving average price is $463.44.

Institutional Investors Weigh In On argenx

A number of large investors have recently made changes to their positions in ARGX. Price T Rowe Associates Inc. MD grew its position in shares of 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 valued at $2,167,235,000 after purchasing an additional 1,830,651 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in 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 acquiring an additional 439,889 shares during the last quarter. Clearbridge Investments LLC lifted its holdings 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 acquiring an additional 159,480 shares during the last quarter. Perpetual Ltd acquired a new position in argenx in the third quarter valued at approximately $76,314,000. Finally, Logos Global Management LP acquired a new position in argenx in the second quarter valued at approximately $58,055,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

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.