Stifel Nicolaus Reiterates Buy Rating for argenx (NASDAQ:ARGX)

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

ARGX has been the subject of a number of other reports. HC Wainwright began coverage on argenx in a research note on Wednesday. They issued a “neutral” rating and a $272.00 price target for the company. JMP Securities increased their price objective on shares of argenx from $170.00 to $237.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price objective on shares of argenx from $179.00 to $246.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Morgan Stanley upped their price objective on argenx from $180.00 to $258.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Finally, Nomura reissued a “buy” rating and set a $255.00 price objective on shares of argenx in a report on Sunday, May 17th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. argenx presently has an average rating of “Buy” and a consensus price target of $227.18.

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

argenx (NASDAQ:ARGX) last posted its quarterly earnings results 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 analyst estimates of $18.08 million. Analysts forecast that argenx will post -9.99 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in ARGX. Wellington Management Group LLP increased its holdings in argenx by 117.8% in the first quarter. Wellington Management Group LLP now owns 688,542 shares of the company’s stock worth $90,701,000 after purchasing an additional 372,436 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of argenx by 67.2% in the first quarter. Lord Abbett & CO. LLC now owns 336,027 shares of the company’s stock valued at $44,265,000 after purchasing an additional 135,008 shares during the period. Jennison Associates LLC increased its stake in argenx by 47.9% during the 1st quarter. Jennison Associates LLC now owns 406,718 shares of the company’s stock worth $53,577,000 after buying an additional 131,737 shares in the last quarter. Franklin Resources Inc. boosted its position in argenx by 20.1% during 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 during the last quarter. Finally, Samlyn Capital LLC purchased a new stake in shares of argenx in the first quarter valued at approximately $11,517,000. 49.64% of the stock is owned by hedge funds and other institutional investors.

About argenx

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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