JMP Securities Issues Positive Forecast for argenx (NASDAQ:ARGX) Stock Price

argenx (NASDAQ:ARGX - Free Report) had its price target increased by JMP Securities from $606.00 to $696.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Scotiabank upgraded argenx from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Truist Financial boosted their price target on shares of argenx from $540.00 to $660.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Oppenheimer restated an "outperform" rating and issued a $675.00 price objective (up from $646.00) on shares of argenx in a report on Thursday, November 21st. Guggenheim boosted their target price on shares of argenx from $585.00 to $665.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Wedbush restated an "outperform" rating and issued a $655.00 price target on shares of argenx in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, argenx has an average rating of "Moderate Buy" and a consensus target price of $658.39.

argenx Price Performance

Shares of NASDAQ ARGX traded down $4.80 during midday trading on Tuesday, hitting $665.60. The company's stock had a trading volume of 388,015 shares, compared to its average volume of 279,439. argenx has a 1 year low of $349.86 and a 1 year high of $678.21. The business's fifty day simple moving average is $615.14 and its two-hundred day simple moving average is $551.05. The firm has a market capitalization of $40.18 billion, a price-to-earnings ratio of -756.36 and a beta of 0.59.

argenx (NASDAQ:ARGX - Get Free Report) last posted 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. 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 2.11% and a negative return on equity of 1.45%. During the same quarter in the previous year, the firm posted ($1.25) earnings per share. Analysts anticipate that argenx will post 2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Large investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in shares of argenx during the second quarter worth about $76,000. Cromwell Holdings LLC boosted its holdings in argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock valued at $85,000 after purchasing an additional 66 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of argenx by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company's stock worth $94,000 after buying an additional 56 shares in the last quarter. Blue Trust Inc. raised its stake in shares of argenx by 413.9% during the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company's stock worth $201,000 after buying an additional 298 shares in the last quarter. Finally, Keudell Morrison Wealth Management acquired a new stake in shares of argenx in the 3rd quarter valued at approximately $207,000. 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.