argenx (NASDAQ:ARGX) Stock Price Expected to Rise, Evercore ISI Analyst Says

argenx (NASDAQ:ARGX) had its price objective boosted by investment analysts at Evercore ISI from $675.00 to $706.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price suggests a potential upside of 19.29% from the stock’s current price.

Other research analysts have also issued reports about the stock. Baird R W lowered shares of argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. JMP Securities raised their price target on shares of argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Wells Fargo & Company raised their price target on shares of argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wolfe Research raised shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price target for the company in a report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued 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 price target of $628.89.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $591.82 on Thursday. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $611.22. The stock has a market cap of $35.39 billion, a price-to-earnings ratio of -672.52 and a beta of 0.61. The firm’s 50-day simple moving average is $555.08 and its 200 day simple moving average is $485.94.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same quarter last year, the business posted ($1.25) EPS. On average, sell-side analysts predict that argenx will post 2.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. M&T Bank Corp lifted its stake in shares of argenx by 7.2% in the third quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock worth $2,335,000 after buying an additional 289 shares in the last quarter. MML Investors Services LLC lifted its stake in shares of argenx by 16.9% in the third quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock worth $4,715,000 after buying an additional 1,255 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of argenx by 2.7% in the third quarter. Orion Portfolio Solutions LLC now owns 8,800 shares of the company’s stock worth $4,768,000 after buying an additional 234 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of argenx by 50.7% in the third quarter. XTX Topco Ltd now owns 5,030 shares of the company’s stock worth $2,727,000 after buying an additional 1,693 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of argenx by 13.0% in the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after buying an additional 55,617 shares in the last quarter. 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.