Wedbush Raises argenx (NASDAQ:ARGX) Price Target to $170.00

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argenx (NASDAQ:ARGX) had its price objective boosted by Wedbush from $144.00 to $170.00 in a report released on Friday, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird started coverage on shares of argenx in a research report on Thursday, June 27th. They set an outperform rating and a $170.00 price objective for the company. Zacks Investment Research cut shares of argenx from a buy rating to a hold rating in a research report on Tuesday, July 16th. ValuEngine cut shares of argenx from a buy rating to a hold rating in a research report on Thursday, August 1st. Piper Jaffray Companies upped their price objective on shares of argenx from $161.00 to $182.00 and gave the stock an overweight rating in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $154.00 price objective on shares of argenx in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $152.27.

ARGX opened at $133.00 on Friday. argenx has a twelve month low of $63.81 and a twelve month high of $150.92. The business’s 50-day moving average price is $141.39. The company has a market capitalization of $4.59 billion, a PE ratio of -56.60 and a beta of 1.18.

Several hedge funds have recently bought and sold shares of the company. FDx Advisors Inc. lifted its holdings in shares of argenx by 5.8% in the second quarter. FDx Advisors Inc. now owns 2,046 shares of the company’s stock worth $290,000 after acquiring an additional 113 shares during the last quarter. JGP Global Gestao de Recursos Ltda. lifted its holdings in shares of argenx by 9.0% in the first quarter. JGP Global Gestao de Recursos Ltda. now owns 2,288 shares of the company’s stock worth $286,000 after acquiring an additional 188 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of argenx by 0.5% in the second quarter. TimesSquare Capital Management LLC now owns 123,755 shares of the company’s stock worth $17,521,000 after acquiring an additional 600 shares during the last quarter. Marshall Wace LLP bought a new position in shares of argenx in the first quarter worth about $121,000. Finally, SG Americas Securities LLC bought a new position in shares of argenx in the first quarter worth about $134,000. 68.02% 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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