argenx (NASDAQ:ARGX) Stock Price Expected to Rise, Citigroup Analyst Says

argenx (NASDAQ:ARGX) had its target price boosted by research analysts at Citigroup from $681.00 to $796.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 34.04% from the stock’s previous close.

ARGX has been the topic of a number of other reports. Sanford C. Bernstein raised shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Guggenheim increased their target price on shares of argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Wedbush reiterated an “outperform” rating and issued a $715.00 target price on shares of argenx in a research note on Friday, April 11th. Truist Financial restated a “buy” rating and set a $700.00 target price (up from $660.00) on shares of argenx in a research report on Tuesday, January 14th. Finally, Robert W. Baird raised their target price on shares of argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, argenx currently has a consensus rating of “Moderate Buy” and an average price target of $699.28.

argenx Price Performance

Shares of NASDAQ:ARGX traded up $6.28 during trading hours on Thursday, hitting $593.87. The company’s stock had a trading volume of 222,829 shares, compared to its average volume of 308,492. argenx has a 52 week low of $352.77 and a 52 week high of $678.21. The firm’s fifty day moving average price is $604.33 and its 200 day moving average price is $604.83. The company has a market capitalization of $36.08 billion, a price-to-earnings ratio of -675.86 and a beta of 0.60.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. The business had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. On average, equities research analysts predict that argenx will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenx

A number of hedge funds and other institutional investors have recently made changes to their positions in ARGX. GeoWealth Management LLC lifted its holdings in argenx by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after buying an additional 18 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of argenx in the fourth quarter worth $37,000. Global Retirement Partners LLC grew its holdings in shares of argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock valued at $38,000 after acquiring an additional 48 shares in the last quarter. FIL Ltd bought a new position in shares of argenx in the fourth quarter valued at $38,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in argenx during the fourth quarter worth $38,000. 60.32% of the stock is currently 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.