Brokerages Set argenx SE (NASDAQ:ARGX) Price Target at $547.74

argenx SE (NASDAQ:ARGX) has been given a consensus rating of “Moderate Buy” by the twenty-two ratings firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $547.74.

A number of research firms have recently weighed in on ARGX. Robert W. Baird raised their price target on shares of argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Piper Sandler boosted their target price on shares of argenx from $522.00 to $535.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Morgan Stanley cut their target price on shares of argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 28th. Wells Fargo & Company lifted their price target on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, HC Wainwright upped their price objective on argenx from $504.00 to $533.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

argenx Price Performance

NASDAQ:ARGX opened at $533.00 on Friday. The firm has a 50-day moving average of $512.59 and a two-hundred day moving average of $432.45. The stock has a market cap of $31.68 billion, a P/E ratio of -94.17 and a beta of 0.62. argenx has a 1-year low of $327.73 and a 1-year high of $554.74.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $489.43 million during the quarter, compared to the consensus estimate of $436.66 million. During the same quarter in the prior year, the business posted ($1.69) earnings per share. As a group, equities analysts expect that argenx will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of argenx by 26.2% in the fourth quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock valued at $106,204,000 after purchasing an additional 57,956 shares during the period. Sectoral Asset Management Inc. increased its position in argenx by 717.2% in the 4th quarter. Sectoral Asset Management Inc. now owns 10,027 shares of the company’s stock valued at $3,815,000 after acquiring an additional 8,800 shares during the period. Boxer Capital LLC raised its stake in argenx by 88.2% during the 4th quarter. Boxer Capital LLC now owns 160,000 shares of the company’s stock valued at $60,869,000 after acquiring an additional 75,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in argenx by 9.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 47,583 shares of the company’s stock worth $18,102,000 after acquiring an additional 3,967 shares during the period. Finally, Altitude Crest Partners Inc. bought a new position in shares of argenx in the fourth quarter worth $11,223,000. 60.32% of the stock is owned by institutional investors and hedge funds.

About argenx

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.