Piper Sandler Raises argenx (NASDAQ:ARGX) Price Target to $535.00

argenx (NASDAQ:ARGX) had its price objective increased by Piper Sandler from $522.00 to $535.00 in a research report sent to investors on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

ARGX has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on shares of argenx from $560.00 to $500.00 and set an overweight rating on the stock in a research note on Monday, May 13th. Wedbush reaffirmed an outperform rating and issued a $521.00 price objective on shares of argenx in a research report on Thursday, April 18th. Scotiabank lifted their target price on argenx from $402.00 to $408.00 and gave the stock a sector perform rating in a report on Tuesday, March 26th. Wells Fargo & Company upped their price target on argenx from $478.00 to $542.00 and gave the company an overweight rating in a report on Monday. Finally, JMP Securities dropped their price objective on argenx from $471.00 to $468.00 and set a market outperform rating on the stock in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $525.42.

argenx Stock Down 1.3 %

ARGX stock opened at $445.88 on Monday. The business has a 50 day moving average of $379.85 and a 200 day moving average of $386.89. argenx has a twelve month low of $327.73 and a twelve month high of $550.76. The firm has a market cap of $26.50 billion, a PE ratio of -78.78 and a beta of 0.65.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.33). argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. The company had revenue of $412.51 million during the quarter, compared to analysts’ expectations of $404.03 million. During the same period in the prior year, the firm earned ($0.52) EPS. On average, research analysts expect that argenx will post -2.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in shares of argenx by 6.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,341 shares of the company’s stock valued at $659,000 after buying an additional 84 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of argenx during the third quarter worth $433,000. Envestnet Asset Management Inc. grew its stake in argenx by 144.5% during the third quarter. Envestnet Asset Management Inc. now owns 43,887 shares of the company’s stock valued at $21,576,000 after acquiring an additional 25,940 shares in the last quarter. Acadian Asset Management LLC increased its holdings in argenx by 42.9% in the 3rd quarter. Acadian Asset Management LLC now owns 806 shares of the company’s stock valued at $396,000 after acquiring an additional 242 shares during the last quarter. Finally, Mariner LLC lifted its stake in argenx by 36.1% in the 3rd quarter. Mariner LLC now owns 2,764 shares of the company’s stock worth $1,359,000 after purchasing an additional 733 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

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.