Oppenheimer Issues Positive Forecast for argenx (NASDAQ:ARGX) Stock Price

argenx (NASDAQ:ARGX) had its target price lifted by research analysts at Oppenheimer from $560.00 to $646.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 11.03% from the company’s current price.

Several other research firms have also commented on ARGX. Raymond James reissued a “strong-buy” rating and issued a $605.00 price target on shares of argenx in a research report on Thursday, October 10th. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company lifted their price target on shares of argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, JMP Securities upped their price target on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $582.50.

argenx Price Performance

ARGX stock opened at $581.80 on Friday. argenx has a 1-year low of $327.73 and a 1-year high of $589.60. The business has a 50-day moving average price of $536.55 and a 200 day moving average price of $463.44. The company has a market capitalization of $34.79 billion, a P/E ratio of -165.28 and a beta of 0.63.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same quarter in the prior year, the firm earned ($1.25) EPS. On average, analysts anticipate that argenx will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its position in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares in the last quarter. J.Safra Asset Management Corp lifted its stake in shares of argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares during the period. GAMMA Investing LLC boosted its holdings in argenx by 51.3% during the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after buying an additional 40 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in argenx during the second quarter valued at $76,000. Finally, Cromwell Holdings LLC increased its holdings in argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after buying an additional 66 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

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.