Oppenheimer Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its price target increased by Oppenheimer from $675.00 to $704.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the stock. 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 research note on Friday, November 1st. Piper Sandler increased their target price on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “hold” rating to a “sell” rating in a report on Friday, January 17th. JPMorgan Chase & Co. increased their target price on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Scotiabank raised shares of argenx from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $439.00 to $715.00 in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, argenx currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.17.

argenx Trading Down 0.0 %

Shares of argenx stock opened at $624.67 on Friday. The company’s fifty day simple moving average is $642.61 and its two-hundred day simple moving average is $589.72. The company has a market cap of $37.96 billion, a P/E ratio of -709.85 and a beta of 0.58. argenx has a 12-month low of $349.86 and a 12-month high of $678.21.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. The business had revenue of $761.22 million for the quarter, compared to the consensus estimate of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. Analysts predict that argenx will post 3.13 EPS for the current fiscal year.

Institutional Trading of argenx

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in shares of argenx by 17.2% during the fourth quarter. FMR LLC now owns 5,618,222 shares of the company’s stock worth $3,455,207,000 after purchasing an additional 824,750 shares during the last quarter. Janus Henderson Group PLC grew its stake in argenx by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock valued at $1,343,797,000 after purchasing an additional 10,975 shares during the last quarter. Capital World Investors boosted its holdings in argenx by 5.1% in the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company’s stock worth $1,099,002,000 after acquiring an additional 86,687 shares in the last quarter. RTW Investments LP boosted its holdings in argenx by 2.9% in the fourth quarter. RTW Investments LP now owns 673,497 shares of the company’s stock worth $414,201,000 after acquiring an additional 19,067 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in argenx by 6.8% in the fourth quarter. Clearbridge Investments LLC now owns 629,828 shares of the company’s stock worth $387,344,000 after acquiring an additional 40,330 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

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.