Truist Financial Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its price target raised by equities researchers at Truist Financial from $540.00 to $660.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 13.84% from the stock’s previous close.

Several other research firms have also recently commented on ARGX. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. raised their price target on argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Raymond James reiterated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Citigroup lifted their price objective on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $557.11.

argenx Stock Up 5.1 %

NASDAQ:ARGX traded up $28.06 during trading hours on Thursday, reaching $579.77. 495,045 shares of the stock were exchanged, compared to its average volume of 307,137. argenx has a twelve month low of $327.73 and a twelve month high of $589.60. The business has a 50-day moving average of $536.55 and a two-hundred day moving average of $463.44. The company has a market capitalization of $34.46 billion, a price-to-earnings ratio of -102.37 and a beta of 0.63.

Institutional Trading of argenx

Several institutional investors have recently made changes to their positions in ARGX. Profund Advisors LLC increased its position in shares of argenx by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 973 shares of the company’s stock valued at $418,000 after buying an additional 28 shares in the last quarter. Wealth Alliance raised its holdings in argenx by 4.8% in the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after acquiring an additional 29 shares during the period. GAMMA Investing LLC increased its holdings in shares of argenx by 51.3% during the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after purchasing an additional 40 shares during the period. Toronto Dominion Bank increased its holdings in shares of argenx by 16.5% during the first quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock worth $119,000 after purchasing an additional 43 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in argenx by 3.1% in the second quarter. Sequoia Financial Advisors LLC now owns 1,713 shares of the company’s stock valued at $737,000 after acquiring an additional 52 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.