argenx (NASDAQ:ARGX) Price Target Raised to $680.00

Argentx (NASDAQ:ARGX) is in the spotlight as Robert W. Baird has raised its price target from $650.00 to $680.00. This update was shared in a research note released to investors on Tuesday. The brokerage maintains a "neutral" rating on the stock, indicating that they view it as stable. The new price target suggests a potential upside of 7.55% based on the stock's current trading price.

Analyst Opinions on argenx

In addition to Robert W. Baird’s assessment, several other analysts have also provided their opinions on the stock. For instance, on Friday, Wells Fargo & Company increased its price target for argenx from $723.00 to $741.00 and assigned it an "overweight" rating. Conversely, Deutsche Bank Aktiengesellschaft downgraded argenx from a "hold" to a "sell" rating. Earlier in January, Piper Sandler raised its price target from $620.00 to $725.00, giving the stock an "overweight" rating as well. Furthermore, Evercore ISI adjusted their price target to $706.00 and rated the stock as "outperform" in November. On Friday, HC Wainwright also increased its price target to $720.00 while issuing a "buy" rating.

Market Sentiment

The overall sentiment towards argenx among analysts is mostly positive. According to recent evaluations, one analyst has rated the stock as a sell, two have given it a hold rating, while the majority, eighteen analysts, have issued buy ratings, and one has labeled it a strong buy. Market data indicates that argenx currently holds an average rating of "Moderate Buy" with a consensus target price of approximately $662.83.

Current Stock Performance

As of Tuesday, shares of argenx opened at $632.24, reflecting a 1.5% increase. The stock has a market capitalization of $38.42 billion, with a reported price-to-earnings ratio of -717.61. The stock has experienced a 52-week trading range between a low of $349.86 and a high of $678.21.

Financial Overview

Argentx released its earnings report on February 27th, revealing an earnings per share (EPS) of $1.58 for the quarter, surpassing the consensus estimate of $0.98 by $0.60. Revenues amounted to $761.22 million, compared to the expected $678.52 million. Although the company reported a negative net margin of 2.11% and a negative return on equity of 1.45%, analysts predict an EPS of 3.13 for the current fiscal year.

Institutional Investors and Shareholding

Recently, several hedge funds have modified their holdings in argenx. For example, Brucke Financial Inc. established a new position in the stock worth approximately $412,000. Mackenzie Financial Corp significantly increased its shareholding by 81.4%, now holding 4,449 shares valued at about $2.736 million. Other institutional investors include GF Fund Management and Vise Technologies, which have also adjusted their positions.

About argenx

Argentx SE is a biotechnology company focused on developing treatments for autoimmune diseases across various regions, including the United States and Europe. Its leading candidate, efgartigimod, addresses conditions like myasthenia gravis and immune thrombocytopenia, among others.

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