argenx (NASDAQ:ARGX) Price Target Raised to $639.00 at Wells Fargo & Company

argenx (NASDAQ:ARGX) had its price target upped by investment analysts at Wells Fargo & Company from $547.00 to $639.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 5.43% from the stock’s current price.

Several other brokerages have also commented on ARGX. Oppenheimer raised their price target on argenx from $560.00 to $646.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird cut shares of argenx from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $515.00 to $650.00 in a research report on Friday. Guggenheim reissued a “buy” rating and issued a $585.00 price objective on shares of argenx in a research note on Thursday, September 26th. Wedbush increased their target price on argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Evercore ISI boosted their price target on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $592.33.

argenx Stock Up 3.4 %

NASDAQ:ARGX traded up $19.78 during mid-day trading on Friday, hitting $606.08. 248,202 shares of the stock traded hands, compared to its average volume of 308,232. argenx has a 52 week low of $327.73 and a 52 week high of $610.73. The stock has a market capitalization of $36.24 billion, a price-to-earnings ratio of -692.92 and a beta of 0.63. The firm’s 50 day moving average is $536.55 and its two-hundred day moving average is $463.44.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $1.29. The company had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same period in the previous year, the company earned ($1.25) EPS. As a group, research analysts predict that argenx will post -0.36 EPS for the current year.

Hedge Funds Weigh In On argenx

Several institutional investors have recently made changes to their positions in ARGX. Keudell Morrison Wealth Management purchased a new stake in argenx during the third quarter worth $207,000. Nvwm LLC acquired a new position in shares of argenx in the third quarter worth about $533,000. Janney Montgomery Scott LLC boosted its stake in shares of argenx by 201.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,072 shares of the company’s stock worth $1,123,000 after acquiring an additional 1,384 shares in the last quarter. US Bancorp DE grew its position in shares of argenx by 7.8% during the 3rd quarter. US Bancorp DE now owns 4,350 shares of the company’s stock valued at $2,358,000 after acquiring an additional 316 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of argenx by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,174 shares of the company’s stock valued at $3,347,000 after purchasing an additional 2,410 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other 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.