argenx (NASDAQ:ARGX) Given New $706.00 Price Target at Evercore ISI

argenx (NASDAQ:ARGX) had its target price lifted by Evercore ISI from $675.00 to $706.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Raymond James restated a “strong-buy” rating and issued a $605.00 target price on shares of argenx in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Guggenheim raised their price target on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, 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. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, argenx currently has a consensus rating of “Moderate Buy” and a consensus target price of $630.42.

argenx Stock Up 1.3 %

NASDAQ ARGX traded up $7.85 during trading hours on Thursday, hitting $604.59. 80,749 shares of the company were exchanged, compared to its average volume of 309,017. argenx has a 52 week low of $327.73 and a 52 week high of $611.22. The stock has a 50-day moving average price of $555.08 and a 200 day moving average price of $485.94. The stock has a market cap of $36.15 billion, a PE ratio of -682.21 and a beta of 0.61.

argenx (NASDAQ:ARGX) last released 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 firm had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter in the previous year, the company posted ($1.25) EPS. As a group, sell-side analysts anticipate that argenx will post 2.2 earnings per share for the current year.

Institutional Trading of argenx

Several hedge funds and other institutional investors have recently bought and sold shares of ARGX. Price T Rowe Associates Inc. MD lifted its stake in shares of argenx by 49.8% during 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. FMR LLC lifted its position in shares of argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after buying an additional 1,265,486 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of argenx by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock valued at $1,343,797,000 after buying an additional 10,975 shares in the last quarter. Avoro Capital Advisors LLC grew its position in shares of argenx by 0.3% in the 1st quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock worth $487,609,000 after buying an additional 3,900 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of argenx by 3.6% during the 2nd quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock worth $265,535,000 after acquiring an additional 21,189 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

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.