argenx (NASDAQ:ARGX) Stock Price Expected to Rise, Piper Sandler Analyst Says

argenx (NASDAQ:ARGX) had its price target lifted by research analysts at Piper Sandler from $620.00 to $725.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 12.34% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Robert W. Baird lowered argenx from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $515.00 to $650.00 in a research report on Friday, November 1st. Raymond James restated a “strong-buy” rating and set a $605.00 price target on shares of argenx in a research report on Thursday, October 10th. Truist Financial increased their price target on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Citigroup increased their price objective on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Wolfe Research upgraded argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective on the stock in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, argenx has an average rating of “Moderate Buy” and a consensus target price of $645.61.

argenx Trading Up 3.9 %

ARGX stock opened at $645.37 on Tuesday. argenx has a 1-year low of $349.86 and a 1-year high of $648.24. The firm has a market cap of $38.96 billion, a P/E ratio of -733.38 and a beta of 0.59. The business’s 50 day moving average is $607.17 and its 200-day moving average is $543.33.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same period in the prior year, the company earned ($1.25) EPS. Sell-side analysts forecast that argenx will post 2.2 EPS for the current year.

Institutional Trading of argenx

Several hedge funds have recently added to or reduced their stakes in the business. Profund Advisors LLC raised its stake in argenx by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 973 shares of the company’s stock worth $418,000 after buying an additional 28 shares during the period. Raymond James Trust N.A. raised its stake in argenx by 6.0% during the 3rd quarter. Raymond James Trust N.A. now owns 495 shares of the company’s stock worth $268,000 after buying an additional 28 shares during the period. Wealth Alliance raised its stake in argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock worth $270,000 after buying an additional 29 shares during the period. Hantz Financial Services Inc. raised its stake in argenx by 8.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 528 shares of the company’s stock worth $286,000 after buying an additional 43 shares during the period. Finally, GAMMA Investing LLC raised its stake in argenx by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.