argenx (NASDAQ:ARGX) PT Raised to $635.00 at Citigroup

argenx (NASDAQ:ARGX - Free Report) had its target price increased by Citigroup from $512.00 to $635.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on ARGX. Deutsche Bank Aktiengesellschaft cut argenx from a "buy" rating to a "hold" rating in a research report on Friday, October 4th. Stifel Nicolaus boosted their target price on shares of argenx from $485.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, June 24th. Bank of America reaffirmed a "buy" rating and set a $607.00 target price (up from $535.00) on shares of argenx in a report on Monday, June 24th. Oppenheimer upgraded shares of argenx from a "market perform" rating to an "outperform" rating and set a $546.00 price target on the stock in a research note on Tuesday, July 23rd. Finally, Raymond James reissued a "strong-buy" rating and set a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, argenx has an average rating of "Moderate Buy" and an average price target of $550.44.

argenx Price Performance

argenx stock traded up $3.23 during midday trading on Thursday, reaching $543.84. 154,537 shares of the company traded hands, compared to its average volume of 311,181. argenx has a 12 month low of $327.73 and a 12 month high of $554.74. The business has a 50 day moving average of $531.17 and a two-hundred day moving average of $452.30. The firm has a market capitalization of $32.32 billion, a price-to-earnings ratio of -96.08 and a beta of 0.63.

argenx (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $489.43 million for the quarter, compared to analysts' expectations of $436.66 million. During the same period in the prior year, the firm earned ($1.69) EPS. As a group, equities analysts forecast that argenx will post -0.37 EPS for the current year.

Hedge Funds Weigh In On argenx

Several institutional investors have recently bought and sold shares of ARGX. Wellington Management Group LLP boosted its holdings in shares of argenx by 26.2% during the 4th quarter. Wellington Management Group LLP now owns 279,168 shares of the company's stock valued at $106,204,000 after purchasing an additional 57,956 shares during the last quarter. TD Asset Management Inc boosted its stake in argenx by 15.4% during the first quarter. TD Asset Management Inc now owns 223,695 shares of the company's stock valued at $88,073,000 after buying an additional 29,810 shares during the last quarter. Seven Eight Capital LP grew its holdings in argenx by 66.4% during the 1st quarter. Seven Eight Capital LP now owns 3,110 shares of the company's stock valued at $1,224,000 after buying an additional 1,241 shares in the last quarter. Clearbridge Investments LLC increased its stake in argenx by 36.5% in the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company's stock worth $234,766,000 after acquiring an additional 159,480 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of argenx during the 1st quarter worth approximately $2,024,000. 60.32% of the stock is owned by hedge funds and other 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.