Guggenheim Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its target price lifted by Guggenheim from $585.00 to $665.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research report on Friday. Truist Financial lifted their price objective on shares of argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Citigroup upped their target price on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Evercore ISI increased their price target on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $605.00 price objective on shares of argenx in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $598.44.

argenx Price Performance

argenx stock opened at $588.67 on Friday. The stock’s 50 day moving average is $539.46 and its 200 day moving average is $467.19. argenx has a one year low of $327.73 and a one year high of $610.73. The firm has a market cap of $35.20 billion, a P/E ratio of -668.94 and a beta of 0.61.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 0.96%. The company had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the prior year, the company posted ($1.25) earnings per share. Equities analysts anticipate that argenx will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of argenx

Large investors have recently bought and sold shares of the company. TD Asset Management Inc boosted its position in shares of argenx by 15.4% during the first quarter. TD Asset Management Inc now owns 223,695 shares of the company’s stock valued at $88,073,000 after purchasing an additional 29,810 shares in the last quarter. Seven Eight Capital LP boosted its position in shares of argenx by 66.4% during the first quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock valued at $1,224,000 after purchasing an additional 1,241 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of argenx by 36.5% during the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock valued at $234,766,000 after purchasing an additional 159,480 shares in the last quarter. FORA Capital LLC bought a new stake in shares of argenx during the first quarter valued at approximately $2,024,000. Finally, Mediolanum International Funds Ltd bought a new stake in shares of argenx during the first quarter valued at approximately $4,570,000. 60.32% of the stock is 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.