argenx (NASDAQ:ARGX) Price Target Increased to $540.00 by Analysts at Truist Financial

argenx (NASDAQ:ARGX) had its target price lifted by Truist Financial from $480.00 to $540.00 in a research note published on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on ARGX. Bank of America reiterated a buy rating and set a $607.00 price target (up previously from $535.00) on shares of argenx in a research note on Monday, June 24th. Wells Fargo & Company lifted their price objective on argenx from $478.00 to $542.00 and gave the company an overweight rating in a report on Monday, June 24th. William Blair reissued a market perform rating on shares of argenx in a report on Monday, June 17th. JPMorgan Chase & Co. cut their price objective on argenx from $560.00 to $500.00 and set an overweight rating for the company in a report on Monday, May 13th. Finally, Evercore ISI lifted their price objective on argenx from $478.00 to $533.00 and gave the company an outperform rating in a report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $535.37.

argenx Stock Up 4.7 %

Shares of ARGX stock opened at $486.33 on Monday. argenx has a 12 month low of $327.73 and a 12 month high of $532.59. The business’s 50 day moving average is $413.06 and its two-hundred day moving average is $394.35. The company has a market cap of $28.90 billion, a PE ratio of -85.92 and a beta of 0.64.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.33). argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. The company had revenue of $412.51 million during the quarter, compared to analyst estimates of $404.03 million. During the same quarter in the previous year, the business posted ($0.52) EPS. As a group, equities analysts expect that argenx will post -2.93 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

A number of large investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in argenx by 30.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock valued at $5,505,000 after purchasing an additional 3,374 shares during the last quarter. Portside Wealth Group LLC grew its position in argenx by 25.2% in the fourth quarter. Portside Wealth Group LLC now owns 641 shares of the company’s stock valued at $244,000 after acquiring an additional 129 shares during the last quarter. Assenagon Asset Management S.A. grew its position in argenx by 226.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 128,479 shares of the company’s stock valued at $48,877,000 after acquiring an additional 89,153 shares during the last quarter. StoneCrest Wealth Management Inc. bought a new position in argenx in the fourth quarter valued at about $802,000. Finally, DAVENPORT & Co LLC boosted its stake in shares of argenx by 10.4% during the fourth quarter. DAVENPORT & Co LLC now owns 1,553 shares of the company’s stock valued at $591,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds 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.