argenx (NASDAQ:ARGX) PT Raised to $560.00 at Wedbush

argenx (NASDAQ:ARGX) had its target price increased by equities researchers at Wedbush from $519.00 to $560.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 13.62% from the stock’s previous close.

Several other research firms also recently weighed in on ARGX. Piper Sandler upped their price target on argenx from $522.00 to $535.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Wells Fargo & Company upped their price objective on argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus upped their price objective on argenx from $485.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, June 24th. William Blair reaffirmed a “market perform” rating on shares of argenx in a research report on Monday, June 17th. Finally, Truist Financial increased their price target on argenx from $480.00 to $540.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $539.32.

argenx Stock Performance

Shares of argenx stock traded up $6.54 during midday trading on Friday, hitting $492.87. The company had a trading volume of 243,432 shares, compared to its average volume of 321,054. The stock has a market capitalization of $29.29 billion, a P/E ratio of -87.08 and a beta of 0.64. The company has a 50 day moving average of $413.06 and a 200 day moving average of $394.35. argenx has a 52-week low of $327.73 and a 52-week high of $532.59.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of ($0.89) by $1.34. The company had revenue of $489.43 million for the quarter, compared to the consensus estimate of $436.66 million. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. During the same quarter in the prior year, the business posted ($1.69) EPS. Equities research analysts forecast that argenx will post -2.88 EPS for the current year.

Institutional Investors Weigh In On argenx

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in shares of argenx by 49.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after purchasing an additional 1,830,651 shares in the last quarter. Capital World Investors raised its stake in shares of argenx by 37.0% during the fourth quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock valued at $746,099,000 after acquiring an additional 530,181 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of argenx by 24.8% during the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after acquiring an additional 439,889 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of argenx by 12.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock valued at $1,207,666,000 after acquiring an additional 346,178 shares in the last quarter. Finally, Avoro Capital Advisors LLC raised its stake in shares of argenx by 23.5% during the fourth quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock valued at $469,666,000 after acquiring an additional 234,567 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

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.