argenx SE (NASDAQ:ARGX) Receives $662.83 Consensus Target Price from Brokerages

argenx SE (NASDAQ:ARGX) has been given a consensus recommendation of “Moderate Buy” by the twenty-two analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $687.00.

Several analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of argenx from $723.00 to $741.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. HC Wainwright increased their target price on shares of argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Piper Sandler increased their target price on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. JMP Securities raised their price objective on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 14th. Finally, Oppenheimer raised their price objective on shares of argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a research report on Friday, February 28th.

argenx Price Performance

NASDAQ ARGX opened at $571.00 on Friday. argenx has a 1 year low of $349.86 and a 1 year high of $678.21. The stock has a market capitalization of $34.69 billion, a PE ratio of -648.86 and a beta of 0.59. The company’s 50 day simple moving average is $641.45 and its two-hundred day simple moving average is $594.49.

argenx (NASDAQ:ARGX) last posted its earnings results 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 net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $761.22 million for the quarter, compared to analysts’ expectations of $678.52 million. On average, research analysts anticipate that argenx will post 3.13 EPS for the current year.

Hedge Funds Weigh In On argenx

Several institutional investors and hedge funds have recently made changes to their positions in ARGX. FMR LLC grew its holdings in shares of argenx by 35.9% during the 3rd 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 during the last quarter. Lord Abbett & CO. LLC bought a new stake in argenx in the 3rd quarter worth $88,339,000. Point72 Asset Management L.P. bought a new stake in argenx in the 4th quarter worth $91,013,000. Allspring Global Investments Holdings LLC grew its holdings in argenx by 38,152.3% in the 4th 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 during the last quarter. Finally, Marshall Wace LLP grew its holdings in argenx by 184.7% in the 4th 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 during the last quarter. 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.