Wells Fargo & Company Raises argenx (NASDAQ:ARGX) Price Target to $547.00

argenx (NASDAQ:ARGX) had its price target increased by Wells Fargo & Company from $543.00 to $547.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the stock.

ARGX has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft raised shares of argenx from a hold rating to a buy rating in a research report on Thursday, July 25th. William Blair reissued a market perform rating on shares of argenx in a research report on Monday, June 17th. Bank of America reissued a buy rating and set a $607.00 price target (up previously from $535.00) on shares of argenx in a research report on Monday, June 24th. Piper Sandler boosted their price target on shares of argenx from $522.00 to $535.00 and gave the company an overweight rating in a research report on Monday, June 24th. Finally, Wedbush reaffirmed an outperform rating and issued a $519.00 target price on shares of argenx in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, argenx currently has an average rating of Moderate Buy and a consensus target price of $540.37.

argenx Stock Up 0.9 %

Shares of ARGX opened at $499.05 on Friday. argenx has a 52-week low of $327.73 and a 52-week high of $532.59. The firm’s fifty day moving average is $418.38 and its two-hundred day moving average is $395.72. The stock has a market cap of $29.84 billion, a PE ratio of -88.17 and a beta of 0.64.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of ($0.89) by $1.34. The firm had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same quarter in the previous year, the company posted ($1.69) EPS. As a group, research analysts anticipate that argenx will post -2.59 earnings per share for the current year.

Institutional Trading of argenx

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in 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 worth $2,167,235,000 after purchasing an additional 1,830,651 shares during the period. Artisan Partners Limited Partnership increased 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 worth $1,207,666,000 after buying an additional 346,178 shares during the period. Janus Henderson Group PLC increased 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 worth $872,690,000 after buying an additional 439,889 shares during the period. Capital World Investors increased 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 worth $746,099,000 after buying an additional 530,181 shares during the period. Finally, Avoro Capital Advisors LLC increased its stake in shares of argenx by 0.3% during the first quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock worth $487,609,000 after buying an additional 3,900 shares during the period. 60.32% of the stock is currently 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.