Guggenheim Increases argenx (NASDAQ:ARGX) Price Target to $585.00

argenx (NASDAQ:ARGX) had its price target boosted by Guggenheim from $545.00 to $585.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a hold rating to a buy rating in a research report on Thursday. Evercore ISI upped their target price on argenx from $478.00 to $533.00 and gave the stock an outperform rating in a research note on Friday, July 12th. Piper Sandler lifted their price target on argenx from $522.00 to $535.00 and gave the company an overweight rating in a research report on Monday, June 24th. Oppenheimer upgraded shares of argenx from a market perform rating to an outperform rating and set a $546.00 price objective on the stock in a research report on Tuesday, July 23rd. Finally, Truist Financial lifted their target price on shares of argenx from $480.00 to $540.00 and gave the company a buy rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $539.05.

argenx Trading Up 1.7 %

argenx stock opened at $494.46 on Friday. The firm has a 50 day simple moving average of $415.63 and a 200 day simple moving average of $394.89. argenx has a 1-year low of $327.73 and a 1-year high of $532.59. The firm has a market capitalization of $29.39 billion, a price-to-earnings ratio of -87.36 and a beta of 0.64.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. The firm had revenue of $489.43 million for the quarter, compared to the consensus estimate of $436.66 million. argenx had a negative net margin of 12.31% and a negative return on equity of 9.97%. During the same period in the prior year, the firm posted ($1.69) earnings per share. On average, equities research analysts forecast that argenx will post -2.59 EPS for the current year.

Institutional Investors Weigh In On argenx

Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after purchasing an additional 62 shares during the last quarter. J.Safra Asset Management Corp increased its stake in shares of argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after buying an additional 59 shares during the period. GAMMA Investing LLC raised its holdings in argenx by 420.0% during the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 63 shares during the last quarter. Mather Group LLC. bought a new stake in argenx during the 1st quarter valued at $38,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in argenx in the 4th quarter worth $60,000. 60.32% of the stock is currently owned by hedge funds and other 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.