Brokerages Set argenx SE (NASDAQ:ARGX) PT at $687.00

Shares of argenx SE (NASDAQ:ARGX) have earned an average recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $687.00.

A number of research firms have recently commented on ARGX. Sanford C. Bernstein upgraded argenx from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Piper Sandler increased their price target on argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. HC Wainwright boosted their price objective on argenx from $717.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Wells Fargo & Company increased their target price on argenx from $723.00 to $741.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Guggenheim lifted their price target on shares of argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a research note on Monday, March 10th.

argenx Trading Down 5.9 %

argenx stock opened at $555.11 on Wednesday. argenx has a 12 month low of $352.77 and a 12 month high of $678.21. The stock’s 50 day simple moving average is $621.43 and its two-hundred day simple moving average is $602.61. The firm has a market cap of $33.73 billion, a PE ratio of -630.81 and a beta of 0.60.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.60. The firm had revenue of $761.22 million during the quarter, compared to analysts’ expectations of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. On average, equities research analysts forecast that argenx will post 3.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARGX. Versant Capital Management Inc increased its position in argenx by 1,625.0% during the first quarter. Versant Capital Management Inc now owns 276 shares of the company’s stock worth $163,000 after purchasing an additional 260 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of argenx by 24.8% in the 1st quarter. Central Pacific Bank Trust Division now owns 1,248 shares of the company’s stock valued at $739,000 after buying an additional 248 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of argenx during the 4th quarter worth approximately $267,000. Brucke Financial Inc. purchased a new stake in shares of argenx during the 4th quarter valued at approximately $412,000. Finally, Mackenzie Financial Corp lifted its holdings in argenx by 81.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,449 shares of the company’s stock valued at $2,736,000 after acquiring an additional 1,996 shares during the last quarter. Hedge funds and other 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.