Brokerages Set argenx SE (NASDAQ:ARGX) PT at $687.00

argenx SE (NASDAQ:ARGX) has received an average rating of “Moderate Buy” from the twenty-three research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $687.00.

A number of brokerages recently commented on ARGX. HC Wainwright lifted their price objective on argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Truist Financial reiterated a “buy” rating and set a $700.00 price target (up previously from $660.00) on shares of argenx in a research report on Tuesday, January 14th. Oppenheimer increased their price objective on shares of argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Piper Sandler lifted their target price on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, Guggenheim increased their price target on argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a research note on Monday, March 10th.

Institutional Investors Weigh In On argenx

A number of hedge funds and other institutional investors have recently made changes to their positions in ARGX. Stifel Financial Corp increased its holdings in argenx by 15.3% during the 3rd quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock worth $4,788,000 after purchasing an additional 1,170 shares in the last quarter. Stephens Inc. AR acquired a new position in shares of argenx during the fourth quarter worth about $310,000. Ritholtz Wealth Management grew its holdings in shares of argenx by 85.5% during the fourth quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock worth $552,000 after buying an additional 414 shares in the last quarter. MML Investors Services LLC raised its position in argenx by 16.9% in the 3rd quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock valued at $4,715,000 after buying an additional 1,255 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in argenx by 1,016.7% in the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock valued at $41,000 after acquiring an additional 61 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Price Performance

ARGX opened at $555.11 on Wednesday. The stock has a market capitalization of $33.73 billion, a P/E ratio of -630.81 and a beta of 0.60. The company’s 50 day simple moving average is $621.43 and its 200-day simple moving average is $603.70. argenx has a one year low of $352.77 and a one year high of $678.21.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. The firm had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. As a group, analysts anticipate that argenx will post 3.13 EPS for the current year.

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.