Guggenheim Increases argenx (NASDAQ:ARGX) Price Target to $1,100.00

argenx (NASDAQ:ARGX - Get Free Report) had its price objective lifted by analysts at Guggenheim from $775.00 to $1,100.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price objective points to a potential upside of 89.26% from the company's previous close.

A number of other analysts have also recently issued reports on the company. Piper Sandler increased their price objective on argenx from $620.00 to $725.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Oppenheimer increased their price target on shares of argenx from $675.00 to $704.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Evercore ISI boosted their price objective on shares of argenx from $675.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lowered shares of argenx from a "hold" rating to a "sell" rating in a report on Friday, January 17th. Finally, Truist Financial reissued a "buy" rating and issued a $700.00 price target (up from $660.00) on shares of argenx in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, argenx currently has an average rating of "Moderate Buy" and a consensus target price of $687.00.

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argenx Price Performance

NASDAQ:ARGX traded down $10.24 on Monday, reaching $581.21. 349,877 shares of the company's stock were exchanged, compared to its average volume of 284,224. The firm has a market cap of $35.31 billion, a price-to-earnings ratio of -660.47 and a beta of 0.59. The stock has a fifty day simple moving average of $639.30 and a 200-day simple moving average of $595.27. argenx has a 52 week low of $349.86 and a 52 week high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.60. The business had revenue of $761.22 million during the quarter, compared to analyst estimates of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. As a group, sell-side analysts predict that argenx will post 3.13 EPS for the current year.

Institutional Investors Weigh In On argenx

A number of large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in shares of argenx by 201.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,072 shares of the company's stock valued at $1,123,000 after acquiring an additional 1,384 shares during the period. Assetmark Inc. lifted its holdings in shares of argenx by 8.3% in the third quarter. Assetmark Inc. now owns 7,769 shares of the company's stock worth $4,211,000 after buying an additional 598 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of argenx by 100.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,462 shares of the company's stock valued at $5,130,000 after purchasing an additional 4,741 shares during the last quarter. Victory Capital Management Inc. grew its holdings in argenx by 69.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,562 shares of the company's stock valued at $847,000 after buying an additional 642 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of argenx in the third quarter valued at $453,000. 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.