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

argenx (NASDAQ:ARGX) had its price objective increased by Wedbush from $519.00 to $560.00 in a research report sent to investors on Friday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other equities research analysts also recently commented on ARGX. Wells Fargo & Company upped their target price on argenx from $543.00 to $547.00 and gave the company an overweight rating in a report on Friday. Evercore ISI upped their target price on argenx from $478.00 to $533.00 and gave the company an outperform rating in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft raised argenx from a hold rating to a buy rating in a report on Thursday, July 25th. HC Wainwright upped their target price on argenx from $504.00 to $533.00 and gave the company a buy rating in a report on Friday. Finally, Truist Financial upped their target price on argenx from $480.00 to $540.00 and gave the company a buy rating in a report on Monday, July 22nd. Three 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. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $540.37.

argenx Stock Up 0.9 %

Shares of ARGX stock opened at $499.05 on Friday. The stock has a 50-day simple moving average of $418.38 and a 200 day simple moving average of $395.72. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $532.59. The stock has a market capitalization of $29.84 billion, a P/E ratio of -88.17 and a beta of 0.64.

argenx (NASDAQ:ARGX) last announced its 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. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The business had revenue of $489.43 million during the quarter, compared to analysts’ expectations of $436.66 million. During the same quarter last year, the business posted ($1.69) earnings per share. On average, sell-side analysts anticipate that argenx will post -2.59 earnings per share for the current year.

Institutional Investors Weigh In On argenx

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC raised its stake in shares of argenx by 23.1% during the 1st quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock worth $78,000 after purchasing an additional 37 shares in the last quarter. Wahed Invest LLC raised its stake in shares of argenx by 9.6% during the 4th quarter. Wahed Invest LLC now owns 457 shares of the company’s stock worth $174,000 after purchasing an additional 40 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after purchasing an additional 40 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of argenx by 2.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,530 shares of the company’s stock worth $582,000 after purchasing an additional 41 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of argenx by 3.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,428 shares of the company’s stock valued at $543,000 after acquiring an additional 43 shares during the last quarter. 60.32% of the stock is 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.