argenx (NASDAQ:ARGX) Price Target Raised to $670.00 at JPMorgan Chase & Co.

argenx (NASDAQ:ARGX - Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $640.00 to $670.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

ARGX has been the subject of a number of other reports. Robert W. Baird cut 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 report on Friday. Oppenheimer increased their target price on argenx from $560.00 to $646.00 and gave the stock an "outperform" rating in a research note on Friday. Barclays raised argenx from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, August 6th. Wells Fargo & Company increased their target price on argenx from $547.00 to $639.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, JMP Securities raised their price objective on argenx from $497.00 to $606.00 and gave the company a "market outperform" rating in a research note on Friday. Five investment 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.com, argenx currently has a consensus rating of "Moderate Buy" and an average price target of $598.44.

argenx Trading Down 1.2 %

Shares of NASDAQ ARGX traded down $6.91 during trading hours on Monday, reaching $588.67. The stock had a trading volume of 265,734 shares, compared to its average volume of 309,067. The firm has a market cap of $35.20 billion, a price-to-earnings ratio of -668.94 and a beta of 0.61. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $610.73. The firm has a 50-day moving average of $539.46 and a 200-day moving average of $467.19.

argenx (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 0.96% and a negative net margin of 2.11%. During the same period in the prior year, the firm earned ($1.25) EPS. On average, equities analysts predict that argenx will post -0.36 EPS for the current year.

Hedge Funds Weigh In On argenx

Several hedge funds have recently bought and sold shares of ARGX. J.Safra Asset Management Corp boosted its holdings in argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company's stock valued at $30,000 after acquiring an additional 59 shares during the last quarter. Blue Trust Inc. increased its holdings in argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company's stock valued at $28,000 after buying an additional 62 shares during the last quarter. GAMMA Investing LLC increased its holdings in argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company's stock valued at $51,000 after buying an additional 40 shares during the last quarter. Cromwell Holdings LLC increased its holdings in argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock valued at $85,000 after buying an additional 66 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in argenx in the second quarter valued at approximately $76,000. 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.