Wells Fargo & Company Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its price objective boosted by Wells Fargo & Company from $639.00 to $723.00 in a research note published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently commented on ARGX. Deutsche Bank Aktiengesellschaft downgraded argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Baird R W downgraded shares of argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $439.00 to $715.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Raymond James reissued a “strong-buy” rating and issued a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, argenx presently has an average rating of “Moderate Buy” and an average target price of $639.78.

argenx Stock Performance

NASDAQ ARGX opened at $623.82 on Thursday. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $644.97. The stock has a market cap of $37.66 billion, a PE ratio of -708.89 and a beta of 0.59. The firm’s fifty day moving average price is $591.24 and its two-hundred day moving average price is $522.44.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the prior year, the firm earned ($1.25) EPS. As a group, sell-side analysts predict that argenx will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of argenx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Lord Abbett & CO. LLC purchased a new position in argenx during the 3rd quarter worth $88,339,000. Wilmington Savings Fund Society FSB bought a new stake in argenx in the 3rd quarter worth about $652,000. Sanctuary Advisors LLC increased its stake in argenx by 17.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,064 shares of the company’s stock valued at $1,119,000 after buying an additional 308 shares during the last quarter. M&T Bank Corp lifted its position in shares of argenx by 7.2% during the 3rd quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock worth $2,335,000 after buying an additional 289 shares in the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of argenx by 16.9% in the 3rd quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock worth $4,715,000 after buying an additional 1,255 shares during the last quarter. 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.