Wells Fargo & Company Issues Positive Forecast for argenx (NASDAQ:ARGX) Stock Price

argenx (NASDAQ:ARGX) had its target price upped by Wells Fargo & Company from $639.00 to $723.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

ARGX has been the topic of a number of other reports. Citigroup boosted their target price on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Baird R W cut argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Piper Sandler raised their target price on shares of argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $655.00 price target on shares of argenx in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, argenx presently has an average rating of “Moderate Buy” and a consensus target price of $639.78.

argenx Trading Up 0.3 %

NASDAQ ARGX opened at $626.03 on Thursday. argenx has a 12 month low of $327.73 and a 12 month high of $644.97. The stock’s 50 day moving average is $587.52 and its 200 day moving average is $520.00. The stock has a market cap of $37.79 billion, a PE ratio of -711.40 and a beta of 0.59.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same quarter in the prior year, the business earned ($1.25) earnings per share. On average, analysts forecast that argenx will post 2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC purchased a new stake in argenx in the 3rd quarter valued at about $88,339,000. Wilmington Savings Fund Society FSB bought a new stake in shares of argenx during the third quarter valued at approximately $652,000. Sanctuary Advisors LLC boosted its holdings in shares of argenx by 17.5% in the third quarter. Sanctuary Advisors LLC now owns 2,064 shares of the company’s stock valued at $1,119,000 after purchasing an additional 308 shares during the period. M&T Bank Corp boosted its holdings in shares of argenx by 7.2% in the third quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock valued at $2,335,000 after purchasing an additional 289 shares during the period. Finally, MML Investors Services LLC grew its stake in argenx by 16.9% in the third quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock worth $4,715,000 after purchasing an additional 1,255 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

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.