argenx (NASDAQ:ARGX) Price Target Raised to $704.00 at Oppenheimer

argenx (NASDAQ:ARGX) had its target price upped by Oppenheimer from $675.00 to $704.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

ARGX has been the subject of several other research reports. Wolfe Research upgraded shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price target for the company in a research report on Tuesday, November 12th. Wells Fargo & Company increased their price target on shares of argenx from $639.00 to $723.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “hold” rating to a “sell” rating in a research report on Friday, January 17th. Guggenheim increased their price target on shares of argenx from $585.00 to $665.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Piper Sandler upped their price objective on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.17.

argenx Price Performance

NASDAQ ARGX opened at $624.67 on Friday. argenx has a 1 year low of $349.86 and a 1 year high of $678.21. The firm has a market cap of $37.96 billion, a price-to-earnings ratio of -709.85 and a beta of 0.58. The company has a fifty day moving average price of $642.61 and a 200-day moving average price of $589.72.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.60. The firm had revenue of $761.22 million during 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, research analysts anticipate that argenx will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

A number of institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE raised its stake in argenx by 7.8% in the third quarter. US Bancorp DE now owns 4,350 shares of the company’s stock valued at $2,358,000 after purchasing an additional 316 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of argenx by 201.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 2,072 shares of the company’s stock worth $1,123,000 after acquiring an additional 1,384 shares during the last quarter. Nvwm LLC bought a new stake in shares of argenx in the 3rd quarter worth approximately $533,000. Keudell Morrison Wealth Management bought a new stake in shares of argenx in the 3rd quarter worth approximately $207,000. Finally, Assetmark Inc. lifted its holdings in shares of argenx by 8.3% in the 3rd quarter. Assetmark Inc. now owns 7,769 shares of the company’s stock worth $4,211,000 after acquiring an additional 598 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other 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.