Truist Financial Boosts argenx (NASDAQ:ARGX) Price Target to $660.00

argenx (NASDAQ:ARGXGet Free Report) had its price objective lifted by equities research analysts at Truist Financial from $540.00 to $660.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 10.82% from the stock’s current price.

ARGX has been the subject of a number of other research reports. Evercore ISI boosted their price objective on shares of argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a report on Friday, July 12th. HC Wainwright boosted their price objective on shares of argenx from $504.00 to $533.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays raised shares of argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Raymond James reissued a “strong-buy” rating and issued a $605.00 price objective on shares of argenx in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $596.78.

View Our Latest Stock Report on argenx

argenx Stock Performance

Shares of ARGX stock opened at $595.58 on Thursday. The company has a market capitalization of $35.61 billion, a price-to-earnings ratio of -676.80 and a beta of 0.63. The company has a 50-day simple moving average of $537.88 and a 200 day simple moving average of $464.29. argenx has a 52 week low of $327.73 and a 52 week high of $610.73.

argenx (NASDAQ:ARGXGet Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same quarter in the previous year, the firm posted ($1.25) EPS. Sell-side analysts forecast that argenx will post -0.36 EPS for the current year.

Institutional Investors Weigh In On argenx

Institutional investors have recently added to or reduced their stakes in the business. Norden Group LLC bought a new position in argenx during the first quarter worth $1,465,000. First Trust Direct Indexing L.P. boosted its position in argenx by 9.6% during the first quarter. First Trust Direct Indexing L.P. now owns 1,818 shares of the company’s stock worth $716,000 after purchasing an additional 159 shares during the period. Maryland State Retirement & Pension System boosted its position in argenx by 60.4% during the first quarter. Maryland State Retirement & Pension System now owns 3,093 shares of the company’s stock worth $1,121,000 after purchasing an additional 1,165 shares during the period. BNP Paribas Financial Markets boosted its position in shares of argenx by 7.2% in the first quarter. BNP Paribas Financial Markets now owns 119,019 shares of the company’s stock valued at $46,860,000 after acquiring an additional 7,971 shares during the period. Finally, FORA Capital LLC bought a new position in shares of argenx in the first quarter valued at approximately $2,024,000. 60.32% of the stock is owned by institutional investors.

argenx Company Profile

(Get Free Report)

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.

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