argenx (NASDAQ:ARGX) Given New $720.00 Price Target at HC Wainwright

argenx (NASDAQ:ARGX) had its price target hoisted by research analysts at HC Wainwright from $717.00 to $720.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 15.26% from the company’s current price.

Several other brokerages have also recently commented on ARGX. Wells Fargo & Company lifted their price objective on shares of argenx from $639.00 to $723.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Piper Sandler boosted their target price on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. JMP Securities increased their price target on argenx from $606.00 to $696.00 and gave the stock a “market outperform” rating in a research report on Tuesday, January 14th. Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Truist Financial restated a “buy” rating and issued a $700.00 target price (up previously from $660.00) on shares of argenx in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $658.56.

argenx Price Performance

Shares of ARGX stock opened at $624.70 on Friday. The business has a fifty day moving average of $642.61 and a 200 day moving average of $589.72. argenx has a 1 year low of $349.86 and a 1 year high of $678.21. The firm has a market capitalization of $37.96 billion, a price-to-earnings ratio of -709.89 and a beta of 0.58.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data 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. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. As a group, equities research analysts expect that argenx will post 3.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARGX. GeoWealth Management LLC raised its holdings in shares of argenx by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after acquiring an additional 18 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of argenx during the fourth quarter worth approximately $37,000. Global Retirement Partners LLC raised its stake in 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 purchasing an additional 48 shares during the last quarter. FIL Ltd purchased a new position in argenx in the 4th quarter valued at $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in argenx in the 4th quarter valued at $38,000. 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.