Stifel Nicolaus Reaffirms “Buy” Rating for argenx (NASDAQ:ARGX)

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argenx (NASDAQ:ARGX)‘s stock had its “buy” rating restated by stock analysts at Stifel Nicolaus in a research note issued on Thursday, AnalystRatings.com reports. They presently have a $253.00 target price on the stock. Stifel Nicolaus’ price target points to a potential upside of 9.94% from the stock’s previous close.

ARGX has been the topic of several other research reports. Piper Sandler raised their price target on shares of argenx from $198.00 to $258.00 in a research note on Tuesday, May 26th. Robert W. Baird lifted their target price on argenx from $170.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Morgan Stanley increased their price target on argenx from $180.00 to $258.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price objective on shares of argenx from $179.00 to $246.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, Credit Suisse Group increased their target price on shares of argenx from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. argenx presently has a consensus rating of “Buy” and an average price target of $227.18.

Shares of ARGX opened at $230.13 on Thursday. argenx has a 12 month low of $103.75 and a 12 month high of $272.74. The stock’s 50-day moving average is $237.95 and its two-hundred day moving average is $174.99.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($1.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.72) by ($0.15). The company had revenue of $21.15 million during the quarter, compared to analysts’ expectations of $18.08 million. As a group, equities research analysts predict that argenx will post -9.99 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of argenx by 117.8% in the 1st quarter. Wellington Management Group LLP now owns 688,542 shares of the company’s stock valued at $90,701,000 after purchasing an additional 372,436 shares during the period. Franklin Resources Inc. boosted its holdings in argenx by 20.1% in the fourth quarter. Franklin Resources Inc. now owns 623,968 shares of the company’s stock worth $100,160,000 after acquiring an additional 104,441 shares in the last quarter. Jennison Associates LLC grew its stake in shares of argenx by 47.9% in the first quarter. Jennison Associates LLC now owns 406,718 shares of the company’s stock worth $53,577,000 after acquiring an additional 131,737 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of argenx by 67.2% during the first quarter. Lord Abbett & CO. LLC now owns 336,027 shares of the company’s stock valued at $44,265,000 after acquiring an additional 135,008 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of argenx by 42.2% in the 1st quarter. BlackRock Inc. now owns 282,635 shares of the company’s stock worth $37,232,000 after purchasing an additional 83,827 shares during the last quarter. 49.64% of the stock is owned by institutional investors and hedge funds.

argenx Company Profile

argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.

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Analyst Recommendations for argenx (NASDAQ:ARGX)

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