argenx (NASDAQ:ARGX) Given New $796.00 Price Target at Citigroup

argenx (NASDAQ:ARGX) had its price objective boosted by Citigroup from $681.00 to $796.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

ARGX has been the subject of several other reports. Truist Financial reaffirmed a “buy” rating and issued a $700.00 price objective (up from $660.00) on shares of argenx in a research report on Tuesday, January 14th. HC Wainwright reaffirmed a “buy” rating and issued a $720.00 price target on shares of argenx in a report on Tuesday, April 8th. Piper Sandler boosted their price objective on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. William Blair restated an “outperform” rating on shares of argenx in a research note on Friday, February 28th. Finally, Oppenheimer boosted their price target on argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, argenx has a consensus rating of “Moderate Buy” and an average price target of $699.28.

argenx Stock Up 1.5 %

NASDAQ ARGX opened at $596.20 on Thursday. argenx has a 52 week low of $352.77 and a 52 week high of $678.21. The company has a 50 day moving average price of $603.33 and a 200 day moving average price of $605.20. The firm has a market cap of $36.23 billion, a PE ratio of -677.50 and a beta of 0.60.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The firm had revenue of $761.22 million for the quarter, compared to the consensus estimate of $678.52 million. On average, equities research analysts anticipate that argenx will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenx

A number of institutional investors and hedge funds have recently made changes to their positions in ARGX. Stephens Inc. AR acquired a new stake in argenx in the 4th quarter valued at $310,000. Ritholtz Wealth Management grew its position in shares of argenx by 85.5% in the fourth quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock valued at $552,000 after purchasing an additional 414 shares during the period. Jones Financial Companies Lllp increased its stake in shares of argenx by 1,016.7% during the fourth quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock worth $41,000 after purchasing an additional 61 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of argenx during the 3rd quarter worth about $652,000. Finally, Park Avenue Securities LLC lifted its stake in argenx by 40.0% in the 4th quarter. Park Avenue Securities LLC now owns 1,695 shares of the company’s stock valued at $1,042,000 after buying an additional 484 shares in the last quarter. 60.32% of the stock is currently 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.