Truist Financial Raises argenx (NASDAQ:ARGX) Price Target to $480.00

argenx (NASDAQ:ARGX) had its price objective upped by Truist Financial from $440.00 to $480.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

ARGX has been the topic of a number of other reports. Robert W. Baird dropped their price target on argenx from $505.00 to $490.00 and set an outperform rating on the stock in a research report on Friday, March 1st. Stifel Nicolaus upped their target price on shares of argenx from $485.00 to $500.00 and gave the company a buy rating in a research note on Monday. HC Wainwright reiterated a buy rating and issued a $448.00 price target on shares of argenx in a research note on Monday. Wells Fargo & Company increased their price objective on shares of argenx from $478.00 to $542.00 and gave the company an overweight rating in a research report on Monday. Finally, William Blair reaffirmed a market perform rating on shares of argenx in a research report on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $525.42.

argenx Stock Performance

Shares of argenx stock opened at $444.94 on Tuesday. argenx has a 52-week low of $327.73 and a 52-week high of $550.76. The company has a fifty day moving average of $381.58 and a 200-day moving average of $387.30. The stock has a market capitalization of $26.44 billion, a price-to-earnings ratio of -78.61 and a beta of 0.65.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Monday, May 13th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). The firm had revenue of $412.51 million for the quarter, compared to the consensus estimate of $404.03 million. argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. During the same quarter in the prior year, the company earned ($0.52) earnings per share. On average, equities research analysts forecast that argenx will post -2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

Several large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in argenx by 49.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock worth $2,167,235,000 after purchasing an additional 1,830,651 shares during the period. Capital World Investors increased its stake in shares of argenx by 37.0% during the fourth quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock worth $746,099,000 after buying an additional 530,181 shares during the period. Janus Henderson Group PLC raised its holdings in argenx by 24.8% in the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after acquiring an additional 439,889 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in argenx by 12.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock worth $1,207,666,000 after acquiring an additional 346,178 shares during the last quarter. Finally, Avoro Capital Advisors LLC lifted its stake in argenx by 23.5% in the fourth quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock worth $469,666,000 after acquiring an additional 234,567 shares during 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.