Stifel Nicolaus Raises argenx (NASDAQ:ARGX) Price Target to $500.00

argenx (NASDAQ:ARGX) had its price objective upped by Stifel Nicolaus from $485.00 to $500.00 in a research note published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of argenx from $560.00 to $500.00 and set an overweight rating on the stock in a report on Monday, May 13th. Piper Sandler boosted their price objective on shares of argenx from $522.00 to $535.00 and gave the stock an overweight rating in a report on Monday. HC Wainwright restated a buy rating and set a $448.00 price objective on shares of argenx in a report on Monday. Scotiabank boosted their price objective on shares of argenx from $402.00 to $408.00 and gave the stock a sector perform rating in a report on Tuesday, March 26th. Finally, Robert W. Baird dropped their price objective on shares of argenx from $505.00 to $490.00 and set an outperform rating on the stock in a report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $525.42.

argenx Price Performance

Shares of ARGX opened at $445.88 on Monday. The company has a market capitalization of $26.50 billion, a PE ratio of -78.78 and a beta of 0.65. argenx has a one year low of $327.73 and a one year high of $550.76. The company’s fifty day moving average price is $379.85 and its 200 day moving average price is $386.89.

argenx (NASDAQ:ARGX) last announced its earnings results on Monday, May 13th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.33). The firm had revenue of $412.51 million during the quarter, compared to the consensus estimate of $404.03 million. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. During the same quarter last year, the business earned ($0.52) EPS. Analysts anticipate that argenx will post -2.89 earnings per share for the current year.

Hedge Funds Weigh In On argenx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARGX. PNC Financial Services Group Inc. boosted its position in argenx by 6.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,341 shares of the company’s stock valued at $659,000 after buying an additional 84 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in argenx in the third quarter valued at about $433,000. Envestnet Asset Management Inc. boosted its position in argenx by 144.5% in the third quarter. Envestnet Asset Management Inc. now owns 43,887 shares of the company’s stock valued at $21,576,000 after buying an additional 25,940 shares in the last quarter. Acadian Asset Management LLC boosted its position in argenx by 42.9% in the third quarter. Acadian Asset Management LLC now owns 806 shares of the company’s stock valued at $396,000 after buying an additional 242 shares in the last quarter. Finally, Mariner LLC boosted its position in argenx by 36.1% in the third quarter. Mariner LLC now owns 2,764 shares of the company’s stock valued at $1,359,000 after buying an additional 733 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Company Profile

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.