argenx (NASDAQ:ARGX) Price Target Raised to $725.00 at Piper Sandler

argenx (NASDAQ:ARGX - Free Report) had its target price hoisted by Piper Sandler from $620.00 to $725.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently issued reports on ARGX. JMP Securities lifted their price objective on argenx from $497.00 to $606.00 and gave the stock a "market outperform" rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their price target on shares of argenx from $639.00 to $723.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Truist Financial upped their price objective on shares of argenx from $540.00 to $660.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Wolfe Research raised shares of argenx from a "peer perform" rating to an "outperform" rating and set a $697.00 target price for the company in a research note on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft lowered argenx from a "buy" rating to a "hold" rating in a research note on Friday, October 4th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $645.61.

argenx Price Performance

Shares of ARGX stock traded up $3.25 during midday trading on Tuesday, reaching $648.62. 246,532 shares of the company traded hands, compared to its average volume of 191,708. The firm's 50 day simple moving average is $609.09 and its two-hundred day simple moving average is $545.12. The firm has a market cap of $39.16 billion, a PE ratio of -737.07 and a beta of 0.59. argenx has a 1-year low of $349.86 and a 1-year high of $659.95.

argenx (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to analysts' expectations of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same period in the previous year, the firm posted ($1.25) earnings per share. As a group, research analysts anticipate that argenx will post 2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new stake in shares of argenx in the second quarter valued at 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 worth $85,000 after acquiring an additional 66 shares during the period. GAMMA Investing LLC grew its position in argenx by 47.5% in the third quarter. GAMMA Investing LLC now owns 174 shares of the company's stock valued at $94,000 after acquiring an additional 56 shares in the last quarter. Blue Trust Inc. raised its stake in shares of argenx by 413.9% during the third quarter. Blue Trust Inc. now owns 370 shares of the company's stock valued at $201,000 after purchasing an additional 298 shares during the period. Finally, Gallacher Capital Management LLC acquired a new position in shares of argenx during the second quarter worth $202,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

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.