Scotiabank Raises argenx (NASDAQ:ARGX) Price Target to $408.00

argenx (NASDAQ:ARGX) had its price objective upped by Scotiabank from $402.00 to $408.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a sector perform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. JMP Securities reissued a market outperform rating and set a $471.00 target price on shares of argenx in a research report on Friday, March 22nd. JPMorgan Chase & Co. lowered their price target on shares of argenx from $615.00 to $560.00 and set an overweight rating on the stock in a report on Tuesday, December 5th. Citigroup lowered their price target on shares of argenx from $610.00 to $591.00 and set a buy rating on the stock in a report on Wednesday, November 29th. Robert W. Baird lowered their price target on shares of argenx from $505.00 to $490.00 and set an outperform rating on the stock in a report on Friday, March 1st. Finally, Wolfe Research started coverage on shares of argenx in a report on Thursday, February 15th. They issued a peer perform rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $530.74.

argenx Stock Down 1.2 %

argenx stock opened at $393.72 on Tuesday. argenx has a 52 week low of $327.73 and a 52 week high of $550.76. The company’s 50 day moving average price is $387.95 and its two-hundred day moving average price is $434.94. The stock has a market cap of $23.35 billion, a P/E ratio of -76.60 and a beta of 0.65.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.45). argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. The firm had revenue of $417.84 million for the quarter, compared to the consensus estimate of $378.60 million. During the same period in the prior year, the business earned ($0.70) EPS. On average, equities analysts anticipate that argenx will post -2.07 EPS for the current year.

Institutional Investors Weigh In On argenx

A number of hedge funds and other institutional investors have recently bought and sold shares of ARGX. Capital World Investors raised its holdings in argenx by 37.0% during the 4th quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock valued at $746,099,000 after acquiring an additional 530,181 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of argenx by 339.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 581,586 shares of the company’s stock valued at $285,925,000 after purchasing an additional 449,151 shares in the last quarter. Morgan Stanley grew its position in shares of argenx by 236.9% during the 4th quarter. Morgan Stanley now owns 630,330 shares of the company’s stock valued at $238,788,000 after purchasing an additional 443,217 shares in the last quarter. Jennison Associates LLC grew its position in shares of argenx by 32.2% during the 3rd quarter. Jennison Associates LLC now owns 1,511,745 shares of the company’s stock valued at $743,219,000 after purchasing an additional 368,367 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its position in shares of argenx by 12.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock valued at $1,207,666,000 after purchasing an additional 346,178 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, the Netherlands, Belgium, Japan, Switzerland, Germany, France, Canada, the United Kingdom, and Italy. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, pemphigus foliaceus, chronic inflammatory demyelinating polyneuropathy, bullous pemphigoid, and idiopathic inflammatory myopathy; and ENHANZE SC.