argenx (NASDAQ:ARGX) PT Raised to $408.00

argenx (NASDAQ:ARGX) had its target price upped by analysts at Scotiabank from $402.00 to $408.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 2.36% from the stock’s current price.

Other equities analysts have also issued reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $471.00 target price on shares of argenx in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Citigroup dropped their target price on argenx from $610.00 to $591.00 and set a “buy” rating for the company in a research note on Wednesday, November 29th. Morgan Stanley lowered their price target on argenx from $607.00 to $586.00 and set an “overweight” rating for the company in a research report on Thursday, November 30th. Finally, Raymond James lowered their price target on argenx from $580.00 to $520.00 and set a “strong-buy” rating for the company in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, argenx currently has an average rating of “Moderate Buy” and an average target price of $530.74.

argenx Stock Performance

Shares of ARGX stock opened at $398.59 on Tuesday. The stock has a fifty day moving average price of $387.39 and a 200 day moving average price of $435.23. The stock has a market cap of $23.64 billion, a PE ratio of -77.55 and a beta of 0.65. argenx has a 1 year low of $327.73 and a 1 year high of $550.76.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.45). argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. The firm had revenue of $417.84 million for the quarter, compared to analyst estimates of $378.60 million. During the same period in the prior year, the firm posted ($0.70) earnings per share. As a group, equities research analysts predict that argenx will post -2.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARGX. JPMorgan Chase & Co. boosted its holdings in argenx by 143.0% in the first quarter. JPMorgan Chase & Co. now owns 1,577 shares of the company’s stock valued at $497,000 after purchasing an additional 928 shares during the last quarter. Raymond James & Associates raised its stake in argenx by 19.4% during the first quarter. Raymond James & Associates now owns 4,534 shares of the company’s stock valued at $1,430,000 after buying an additional 738 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in argenx by 46.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 3,544 shares of the company’s stock valued at $1,117,000 after buying an additional 1,116 shares in the last quarter. Bank of New York Mellon Corp raised its stake in argenx by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 6,447 shares of the company’s stock valued at $2,033,000 after buying an additional 271 shares in the last quarter. Finally, US Bancorp DE raised its stake in argenx by 43.0% during the first quarter. US Bancorp DE now owns 1,798 shares of the company’s stock valued at $566,000 after buying an additional 541 shares in the last quarter. 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, the Netherlands, Belgium, Japan, Switzerland, Germany, France, Canada, the United Kingdom, and Italy. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, pemphigus foliaceus, chronic inflammatory demyelinating polyneuropathy, bullous pemphigoid, and idiopathic inflammatory myopathy; and ENHANZE SC.