Citigroup Forecasts Strong Price Appreciation for argenx (NASDAQ:ARGX) Stock

argenx (NASDAQ:ARGX) had its price target raised by Citigroup from $796.00 to $803.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded argenx from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. JMP Securities increased their price target on argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 14th. Guggenheim lifted their price target on argenx from $775.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Robert W. Baird upped their price objective on shares of argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, William Blair reiterated an “outperform” rating on shares of argenx in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $697.94.

argenx Trading Down 3.4%

NASDAQ:ARGX opened at $549.65 on Friday. The company has a 50-day moving average of $596.27 and a 200-day moving average of $613.81. argenx has a twelve month low of $352.77 and a twelve month high of $678.21. The firm has a market cap of $33.56 billion, a price-to-earnings ratio of -624.60 and a beta of 0.57.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.26. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $748.34 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. On average, research analysts forecast that argenx will post 3.13 earnings per share for the current year.

Institutional Trading of argenx

Hedge funds and other institutional investors have recently modified their holdings of the company. Stephens Inc. AR purchased a new position in argenx in the fourth quarter valued at about $310,000. Ritholtz Wealth Management grew its stake in shares of argenx by 85.5% in the 4th quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock valued at $552,000 after buying an additional 414 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of argenx by 1,016.7% in the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock valued at $41,000 after buying an additional 61 shares in the last quarter. Park Avenue Securities LLC increased its holdings in argenx by 40.0% in the fourth quarter. Park Avenue Securities LLC now owns 1,695 shares of the company’s stock worth $1,042,000 after buying an additional 484 shares during the last quarter. Finally, Atomi Financial Group Inc. bought a new position in argenx during the fourth quarter valued at approximately $339,000. 60.32% of the stock is currently owned by hedge funds and other 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.