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

argenx (NASDAQ:ARGX) had its target price lifted by equities research analysts at Oppenheimer from $675.00 to $704.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 13.80% from the company’s current price.

ARGX has been the topic of a number of other research reports. Guggenheim boosted their price objective on shares of argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wedbush reissued an “outperform” rating and set a $655.00 price target on shares of argenx in a research note on Tuesday, December 3rd. Evercore ISI raised their price objective on argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Truist Financial reaffirmed a “buy” rating and set a $700.00 price objective (up from $660.00) on shares of argenx in a report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft lowered argenx from a “hold” rating to a “sell” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $661.17.

argenx Trading Down 1.0 %

Shares of ARGX traded down $6.08 during mid-day trading on Friday, hitting $618.62. The company’s stock had a trading volume of 195,907 shares, compared to its average volume of 270,645. The firm has a 50-day simple moving average of $642.61 and a 200 day simple moving average of $589.72. argenx has a 1-year low of $349.86 and a 1-year high of $678.21. The firm has a market capitalization of $37.59 billion, a P/E ratio of -703.45 and a beta of 0.58.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, February 27th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $761.22 million during the quarter, compared to the consensus estimate of $678.52 million. As a group, sell-side analysts predict that argenx will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

A number of institutional investors have recently bought and sold shares of ARGX. Brucke Financial Inc. purchased a new position in argenx during the fourth quarter worth approximately $412,000. Mackenzie Financial Corp raised its position in shares of argenx by 81.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,449 shares of the company’s stock worth $2,736,000 after buying an additional 1,996 shares during the period. GF Fund Management CO. LTD. acquired a new position in argenx in the fourth quarter valued at $416,000. Vise Technologies Inc. grew its position in argenx by 6.8% during the fourth quarter. Vise Technologies Inc. now owns 799 shares of the company’s stock valued at $491,000 after acquiring an additional 51 shares during the period. Finally, Voloridge Investment Management LLC purchased a new stake in argenx during the fourth quarter valued at about $28,510,000. 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.