argenx SE (NASDAQ:ARGX) Receives $658.39 Consensus Target Price from Brokerages

argenx SE (NASDAQ:ARGX) has earned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $658.39.

A number of research firms have commented on ARGX. Oppenheimer restated an “outperform” rating and set a $675.00 price objective (up previously from $646.00) on shares of argenx in a research note on Thursday, November 21st. Truist Financial reaffirmed a “buy” rating and issued a $700.00 price target (up previously from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Wells Fargo & Company raised their target price on shares of argenx from $639.00 to $723.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Baird R W downgraded shares of argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st.

argenx Stock Performance

Shares of argenx stock opened at $647.39 on Friday. The firm has a 50-day moving average of $622.29 and a 200-day moving average of $560.29. argenx has a 52-week low of $349.86 and a 52-week high of $678.21. The stock has a market cap of $39.08 billion, a PE ratio of -735.67 and a beta of 0.59.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same quarter in the prior year, the business posted ($1.25) EPS. Equities research analysts predict that argenx will post 2.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenx

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in shares of argenx during the second quarter worth $76,000. Cromwell Holdings LLC lifted its holdings in argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after buying an additional 66 shares during the period. GAMMA Investing LLC grew its position in shares of argenx by 47.5% in the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock valued at $94,000 after buying an additional 56 shares during the last quarter. Blue Trust Inc. grew its position in shares of argenx by 413.9% in the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company’s stock valued at $201,000 after buying an additional 298 shares during the last quarter. Finally, Keudell Morrison Wealth Management bought a new position in shares of argenx during the third quarter worth about $207,000. 60.32% of the stock is owned by institutional investors.

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.