argenx (NASDAQ:ARGX) Price Target Raised to $723.00 at Wells Fargo & Company

argenx (NASDAQ:ARGX) had its price objective raised by equities researchers at Wells Fargo & Company from $639.00 to $723.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 16.69% from the company’s current price.

A number of other brokerages have also recently issued reports on ARGX. Robert W. Baird cut shares of argenx from an “outperform” rating to a “neutral” rating and upped their target price for the company from $515.00 to $650.00 in a report on Friday, November 1st. HC Wainwright reissued a “buy” rating and set a $617.00 target price on shares of argenx in a report on Wednesday, November 20th. Citigroup raised their price target on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $439.00 to $715.00 in a research report on Tuesday, November 5th. Finally, Oppenheimer reissued an “outperform” rating and set a $675.00 price target (up from $646.00) on shares of argenx in a report on Thursday, November 21st. Three research analysts have rated the stock with 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, argenx presently has an average rating of “Moderate Buy” and a consensus target price of $639.78.

argenx Price Performance

Shares of ARGX traded down $4.58 during mid-day trading on Thursday, hitting $619.60. 17,884 shares of the company’s stock were exchanged, compared to its average volume of 307,287. The company has a 50-day simple moving average of $585.45 and a 200 day simple moving average of $519.26. The company has a market cap of $37.40 billion, a PE ratio of -704.09 and a beta of 0.59. argenx has a 52 week low of $327.73 and a 52 week high of $644.97.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter last year, the company earned ($1.25) EPS. On average, analysts anticipate that argenx will post 2.2 earnings per share for the current year.

Hedge Funds Weigh In On argenx

A number of institutional investors and hedge funds have recently made changes to their positions in ARGX. Lord Abbett & CO. LLC acquired a new stake in argenx in the 3rd quarter valued at $88,339,000. Wilmington Savings Fund Society FSB purchased a new stake in argenx in the 3rd quarter valued at $652,000. Sanctuary Advisors LLC lifted its stake in argenx by 17.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,064 shares of the company’s stock valued at $1,119,000 after acquiring an additional 308 shares in the last quarter. M&T Bank Corp boosted its holdings in argenx by 7.2% during the 3rd quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock worth $2,335,000 after acquiring an additional 289 shares during the last quarter. Finally, MML Investors Services LLC raised its holdings in shares of argenx by 16.9% in the third quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock valued at $4,715,000 after purchasing an additional 1,255 shares during the last quarter. Institutional investors own 60.32% of the company’s stock.

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.