Wells Fargo & Company Issues Positive Forecast for argenx (NASDAQ:ARGX) Stock Price

argenx (NASDAQ:ARGX) had its price objective boosted by Wells Fargo & Company from $547.00 to $639.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on ARGX. Evercore ISI boosted their price objective on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. Oppenheimer boosted their price objective on argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a research note on Friday. Robert W. Baird lowered argenx from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $515.00 to $650.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Barclays raised argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $596.78.

argenx Stock Performance

Shares of ARGX traded up $9.28 during trading hours on Friday, hitting $595.58. 468,633 shares of the stock were exchanged, compared to its average volume of 309,272. argenx has a 12-month low of $327.73 and a 12-month high of $610.73. The company has a market cap of $35.61 billion, a price-to-earnings ratio of -676.80 and a beta of 0.63. The stock’s 50-day moving average price is $539.46 and its two-hundred day moving average price is $465.81.

argenx (NASDAQ:ARGX) last issued its quarterly 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. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the previous year, the business earned ($1.25) earnings per share. On average, research analysts expect that argenx will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Several large investors have recently bought and sold shares of the stock. Profund Advisors LLC increased its holdings in argenx by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 973 shares of the company’s stock worth $418,000 after purchasing an additional 28 shares during the period. Wealth Alliance increased its holdings in shares of argenx by 4.8% in the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after acquiring an additional 29 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after acquiring an additional 40 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of argenx by 16.5% in the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock valued at $119,000 after acquiring an additional 43 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of argenx by 3.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,713 shares of the company’s stock valued at $737,000 after acquiring an additional 52 shares during 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.