argenx (NASDAQ:ARGX) Price Target Raised to $741.00 at Wells Fargo & Company

argenx (NASDAQ:ARGX) had its target price raised by Wells Fargo & Company from $723.00 to $741.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on ARGX. Oppenheimer upped their price objective on argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a research note on Friday. JMP Securities upped their price objective on argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 14th. Guggenheim increased their price target on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Evercore ISI increased their price target on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Robert W. Baird cut 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $661.17.

argenx Stock Performance

Shares of ARGX opened at $624.67 on Friday. The company has a market capitalization of $37.96 billion, a P/E ratio of -709.85 and a beta of 0.58. argenx has a one year low of $349.86 and a one year high of $678.21. The stock has a 50-day moving average price of $642.61 and a 200 day moving average price of $589.72.

argenx (NASDAQ:ARGX) last issued its quarterly 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 firm had revenue of $761.22 million during the quarter, compared to the consensus estimate of $678.52 million. As a group, equities research analysts forecast that argenx will post 3.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brucke Financial Inc. bought a new stake in shares of argenx during the 4th quarter worth $412,000. Mackenzie Financial Corp boosted its position in shares of argenx by 81.4% in the fourth 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 stake in shares of argenx in the fourth quarter worth $416,000. Vise Technologies Inc. raised its holdings in shares of argenx by 6.8% during the fourth quarter. Vise Technologies Inc. now owns 799 shares of the company’s stock worth $491,000 after acquiring an additional 51 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of argenx during the fourth quarter worth $28,510,000. 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.