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

argenx (NASDAQ:ARGX) had its price target upped by Guggenheim from $775.00 to $1,100.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on ARGX. Piper Sandler raised their price objective on argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Robert W. Baird raised their price objective on argenx from $650.00 to $680.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. JMP Securities raised their price objective on argenx from $606.00 to $696.00 and gave the stock a “market outperform” rating in a research note on Tuesday, January 14th. Truist Financial restated a “buy” rating and set a $700.00 price objective (up from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Finally, HC Wainwright raised their price objective on argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $687.00.

argenx Trading Up 1.9 %

argenx stock opened at $591.45 on Monday. The stock has a market cap of $35.94 billion, a P/E ratio of -672.10 and a beta of 0.59. The stock has a 50 day moving average of $639.78 and a 200-day moving average of $595.30. argenx has a 52 week low of $349.86 and a 52 week high of $678.21.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) 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 analysts’ expectations of $678.52 million. As a group, equities analysts predict that argenx will post 3.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenx

A number of hedge funds and other institutional investors have recently modified their holdings of ARGX. FMR LLC raised its stake in shares of argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after purchasing an additional 1,265,486 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in argenx in the third quarter worth about $88,339,000. Point72 Asset Management L.P. bought a new stake in argenx in the fourth quarter worth about $91,013,000. Allspring Global Investments Holdings LLC raised its position in argenx by 38,152.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company’s stock worth $89,391,000 after acquiring an additional 143,834 shares in the last quarter. Finally, Marshall Wace LLP raised its position in argenx by 184.7% in the fourth quarter. Marshall Wace LLP now owns 191,553 shares of the company’s stock worth $117,805,000 after acquiring an additional 124,271 shares in the last quarter. 60.32% of the stock is currently owned by 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.