argenx (NASDAQ:ARGX) Price Target Raised to $533.00 at Evercore ISI

argenx (NASDAQ:ARGX) had its target price raised by Evercore ISI from $478.00 to $533.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

ARGX has been the topic of a number of other research reports. JMP Securities reduced their target price on argenx from $471.00 to $468.00 and set a market outperform rating on the stock in a research note on Friday, May 10th. Scotiabank increased their target price on argenx from $402.00 to $408.00 and gave the stock a sector perform rating in a research note on Tuesday, March 26th. Wells Fargo & Company increased their target price on argenx from $478.00 to $542.00 and gave the stock an overweight rating in a research note on Monday, June 24th. Morgan Stanley cut their price target on argenx from $515.00 to $510.00 and set an overweight rating on the stock in a research note on Tuesday, May 28th. Finally, Piper Sandler raised their price target on argenx from $522.00 to $535.00 and gave the company an overweight rating in a research note on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $530.53.

argenx Stock Up 1.0 %

Shares of argenx stock opened at $466.42 on Friday. The stock’s fifty day moving average is $396.77 and its two-hundred day moving average is $389.13. argenx has a 52 week low of $327.73 and a 52 week high of $550.76. The company has a market capitalization of $27.72 billion, a PE ratio of -82.41 and a beta of 0.64.

argenx (NASDAQ:ARGX) last released its earnings results on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $412.51 million during the quarter, compared to analysts’ expectations of $404.03 million. During the same quarter in the previous year, the business earned ($0.52) EPS. As a group, research analysts anticipate that argenx will post -2.93 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of argenx by 420.0% during the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 63 shares during the period. Mather Group LLC. purchased a new stake in shares of argenx in the first quarter valued at approximately $38,000. FNY Investment Advisers LLC purchased a new stake in shares of argenx in the fourth quarter valued at approximately $38,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of argenx in the fourth quarter valued at approximately $60,000. Finally, Lindbrook Capital LLC increased its position in shares of argenx by 23.1% in the first quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock valued at $78,000 after buying an additional 37 shares in the last quarter. Hedge funds and other 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.