argenx (NASDAQ:ARGX) Price Target Raised to $606.00 at JMP Securities

argenx (NASDAQ:ARGX) had its target price lifted by JMP Securities from $497.00 to $606.00 in a research note released on Friday morning, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages also recently commented on ARGX. JPMorgan Chase & Co. increased 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. Guggenheim reaffirmed a “buy” rating and set a $585.00 target price on shares of argenx in a research report on Thursday, September 26th. Wedbush increased their price objective on shares of argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Finally, William Blair upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday. Five investment 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. According to data from MarketBeat, argenx has an average rating of “Moderate Buy” and a consensus price target of $596.78.

argenx Trading Up 1.6 %

ARGX stock traded up $9.28 during midday trading on Friday, hitting $595.58. The company’s stock had a trading volume of 468,633 shares, compared to its average volume of 309,272. The company has a market cap of $35.61 billion, a PE ratio of -676.80 and a beta of 0.63. argenx has a 12 month low of $327.73 and a 12 month high of $610.73. The firm’s 50-day moving average is $539.46 and its 200-day moving average is $465.81.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same period in the prior year, the business posted ($1.25) EPS. Analysts expect that argenx will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norden Group LLC bought a new stake in shares of argenx in the 1st quarter valued at approximately $1,465,000. First Trust Direct Indexing L.P. lifted its holdings in shares of argenx by 9.6% during the first quarter. First Trust Direct Indexing L.P. now owns 1,818 shares of the company’s stock valued at $716,000 after purchasing an additional 159 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of argenx by 60.4% during the first quarter. Maryland State Retirement & Pension System now owns 3,093 shares of the company’s stock valued at $1,121,000 after purchasing an additional 1,165 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of argenx by 7.2% during the first quarter. BNP Paribas Financial Markets now owns 119,019 shares of the company’s stock valued at $46,860,000 after purchasing an additional 7,971 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in argenx during the first quarter valued at $2,024,000. 60.32% of the stock is owned by institutional investors and hedge funds.

argenx Company Profile

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.