Citigroup Issues Positive Forecast for argenx (NASDAQ:ARGX) Stock Price

argenx (NASDAQ:ARGX) had its target price boosted by equities research analysts at Citigroup from $681.00 to $796.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 34.04% from the company’s current price.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Oppenheimer raised their price target on argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Wedbush reiterated an “outperform” rating and set a $715.00 price objective on shares of argenx in a research note on Friday, April 11th. Guggenheim boosted their target price on shares of argenx from $775.00 to $1,100.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $720.00 price target on shares of argenx in a research note on Tuesday, April 8th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $699.28.

argenx Stock Up 1.1 %

Shares of ARGX traded up $6.28 during trading hours on Thursday, reaching $593.87. The stock had a trading volume of 222,829 shares, compared to its average volume of 308,492. The firm has a 50-day moving average of $604.33 and a 200 day moving average of $604.83. The company has a market cap of $36.08 billion, a P/E ratio of -675.86 and a beta of 0.60. argenx has a 52 week low of $352.77 and a 52 week high of $678.21.

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

Institutional Trading of argenx

Large investors have recently modified their holdings of the business. FMR LLC increased its stake in shares of argenx by 17.2% in the fourth quarter. FMR LLC now owns 5,618,222 shares of the company’s stock worth $3,455,207,000 after buying an additional 824,750 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of argenx in the 3rd quarter worth approximately $88,339,000. Point72 Asset Management L.P. purchased a new position in shares of argenx in the 4th quarter worth about $91,013,000. Allspring Global Investments Holdings LLC grew its holdings in shares of argenx by 38,152.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company’s stock valued at $89,391,000 after buying an additional 143,834 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of argenx by 53,684.9% in the 1st quarter. GAMMA Investing LLC now owns 135,538 shares of the company’s stock worth $802,200,000 after purchasing an additional 135,286 shares in the last quarter. 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.