Wedbush Raises argenx (NASDAQ:ARGX) Price Target to $560.00

argenx (NASDAQ:ARGX) had its target price raised by Wedbush from $519.00 to $560.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on the stock. Piper Sandler boosted their price objective on shares of argenx from $522.00 to $535.00 and gave the company an overweight rating in a research report on Monday, June 24th. Bank of America reissued a buy rating and set a $607.00 price objective (up from $535.00) on shares of argenx in a research report on Monday, June 24th. Morgan Stanley reduced their price objective on shares of argenx from $515.00 to $510.00 and set an overweight rating on the stock in a research report on Tuesday, May 28th. Oppenheimer raised 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, JMP Securities reduced their target price on shares of argenx from $471.00 to $468.00 and set a market outperform rating on the stock in a research report on Friday, May 10th. 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. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $539.05.

argenx Stock Up 1.7 %

Shares of NASDAQ ARGX opened at $494.46 on Friday. argenx has a 52 week low of $327.73 and a 52 week high of $532.59. The firm’s fifty day moving average is $415.63 and its 200 day moving average is $394.89. The company has a market cap of $29.39 billion, a price-to-earnings ratio of -87.36 and a beta of 0.64.

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

Institutional Trading of argenx

Institutional investors have recently made changes to their positions in the stock. J.Safra Asset Management Corp boosted its holdings in shares of argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after acquiring an additional 59 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after acquiring an additional 62 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 acquiring an additional 63 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of argenx during the 1st quarter valued at about $38,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of argenx during the 4th quarter valued at about $60,000. 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.