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

argenx (NASDAQ:ARGX) had its target price raised by Scotiabank from $402.00 to $408.00 in a research note issued to investors on Tuesday, Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other research firms have also weighed in on ARGX. Citigroup reduced their target price 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. Evercore ISI lowered their target price on argenx from $594.00 to $436.00 and set an outperform rating for the company in a research note on Thursday, December 21st. Raymond James dropped their target price on argenx from $580.00 to $520.00 and set a strong-buy rating on the stock in a report on Thursday, December 21st. Piper Sandler upped their price target on argenx from $518.00 to $522.00 and gave the stock an overweight rating in a report on Friday, January 26th. Finally, Wells Fargo & Company lifted their price objective on shares of argenx from $472.00 to $478.00 and gave the company an overweight rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $530.74.

argenx Price Performance

Shares of NASDAQ:ARGX opened at $393.72 on Tuesday. The business has a 50-day moving average of $388.49 and a two-hundred day moving average of $434.03. The firm has a market capitalization of $23.35 billion, a PE ratio of -76.60 and a beta of 0.65. argenx has a 12 month low of $327.73 and a 12 month high of $550.76.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, February 29th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.45). The business had revenue of $417.84 million for the quarter, compared to analyst estimates of $378.60 million. argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. During the same period last year, the company posted ($0.70) EPS. As a group, research analysts anticipate that argenx will post -2.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARGX. KB Financial Partners LLC increased its position in argenx by 112.5% in the 1st quarter. KB Financial Partners LLC now owns 85 shares of the company’s stock worth $27,000 after buying an additional 45 shares during the period. ADAR1 Capital Management LLC bought a new position in argenx in the fourth quarter worth $27,000. Parkside Financial Bank & Trust acquired a new position in shares of argenx in the 3rd quarter valued at $28,000. FNY Investment Advisers LLC bought a new stake in shares of argenx in the 4th quarter valued at approximately $38,000. Finally, Captrust Financial Advisors grew its position in argenx by 116.7% in the first quarter. Captrust Financial Advisors now owns 143 shares of the company’s stock valued at $45,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

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, 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.