argenx (NASDAQ:ARGX) Price Target Raised to $741.00 at Wells Fargo & Company

argenx (NASDAQ:ARGX) had its target price upped by Wells Fargo & Company from $723.00 to $741.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts have also recently commented on ARGX. William Blair reissued an “outperform” rating on shares of argenx in a report on Friday. Wolfe Research raised argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price target for the company in a report on Tuesday, November 12th. Oppenheimer raised their price target on argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $439.00 to $715.00 in a report on Tuesday, November 5th. Finally, Piper Sandler lifted their price objective on argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $661.17.

argenx Stock Down 0.0 %

NASDAQ:ARGX opened at $624.67 on Friday. argenx has a 52-week low of $349.86 and a 52-week high of $678.21. The stock’s 50 day moving average price is $642.61 and its 200 day moving average price is $589.72. The company has a market capitalization of $37.96 billion, a PE ratio of -709.85 and a beta of 0.58.

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

Institutional Investors Weigh In On argenx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stifel Financial Corp grew its position in shares of argenx by 15.3% in the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock valued at $4,788,000 after purchasing an additional 1,170 shares during the period. FMR LLC lifted its stake in shares of argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after purchasing an additional 1,265,486 shares in the last quarter. Simplify Asset Management Inc. lifted its stake in shares of argenx by 64.0% during the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after purchasing an additional 944 shares in the last quarter. Stephens Inc. AR acquired a new position in shares of argenx during the fourth quarter worth about $310,000. Finally, Ritholtz Wealth Management lifted its stake 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 purchasing an additional 414 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

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.