JMP Securities Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its price target lifted by JMP Securities from $606.00 to $696.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other research firms have also issued reports on ARGX. Truist Financial upped their target price on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price objective on argenx from $639.00 to $723.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Piper Sandler boosted their target price on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Oppenheimer reissued an “outperform” rating and issued a $675.00 price objective (up previously from $646.00) on shares of argenx in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $658.39.

argenx Trading Down 0.8 %

ARGX stock opened at $659.81 on Tuesday. The firm has a 50 day moving average of $619.30 and a 200-day moving average of $554.23. The company has a market cap of $39.83 billion, a price-to-earnings ratio of -749.78 and a beta of 0.59. argenx has a 12-month low of $349.86 and a 12-month high of $678.21.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same period in the previous year, the firm earned ($1.25) EPS. Sell-side analysts forecast that argenx will post 2.17 earnings per share for the current fiscal year.

Institutional Trading of argenx

Institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after buying an additional 1,265,486 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of argenx in the 3rd quarter valued at $88,339,000. Perpetual Ltd acquired a new position in shares of argenx during the 3rd quarter valued at $76,314,000. Logos Global Management LP purchased a new stake in argenx during the 2nd quarter worth $58,055,000. Finally, Wellington Management Group LLP increased its holdings in argenx by 13.0% in the 3rd quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock valued at $261,470,000 after purchasing an additional 55,617 shares in the last quarter. Hedge funds and other 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.