Wells Fargo & Company Increases argenx (NASDAQ:ARGX) Price Target to $639.00

argenx (NASDAQ:ARGX) had its price target raised by analysts at Wells Fargo & Company from $547.00 to $639.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 5.43% from the company’s current price.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of argenx from $500.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Robert W. Baird lowered shares of argenx from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $515.00 to $650.00 in a research note on Friday. HC Wainwright raised their price target on argenx from $533.00 to $617.00 and gave the stock a “buy” rating in a research note on Friday. JMP Securities upped their price objective on argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft cut argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $592.33.

argenx Stock Up 3.4 %

Shares of NASDAQ ARGX traded up $19.78 during midday trading on Friday, hitting $606.08. The stock had a trading volume of 248,202 shares, compared to its average volume of 308,232. The business’s 50 day moving average is $536.55 and its 200-day moving average is $463.44. argenx has a 52 week low of $327.73 and a 52 week high of $610.73. The company has a market cap of $36.24 billion, a P/E ratio of -692.92 and a beta of 0.63.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The business had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. During the same quarter last year, the company earned ($1.25) EPS. As a group, analysts expect that argenx will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Several institutional investors have recently added to or reduced their stakes in ARGX. Price T Rowe Associates Inc. MD grew its stake in shares of argenx by 49.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock worth $2,167,235,000 after buying an additional 1,830,651 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of argenx by 24.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after acquiring an additional 439,889 shares during the last quarter. Clearbridge Investments LLC grew its position in argenx by 36.5% in the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock worth $234,766,000 after acquiring an additional 159,480 shares in the last quarter. Perpetual Ltd bought a new stake in argenx during the third quarter worth approximately $76,314,000. Finally, Logos Global Management LP bought a new stake in argenx during the second quarter worth approximately $58,055,000. 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.