argenx (NASDAQ:ARGX) Price Target Increased to $132.00 by Analysts at SunTrust Banks

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argenx (NASDAQ:ARGX) had its target price lifted by investment analysts at SunTrust Banks to $132.00 in a note issued to investors on Tuesday, September 18th, The Fly reports. The firm currently has an “in-line” rating on the stock. SunTrust Banks’ target price would suggest a potential upside of 81.59% from the stock’s current price. SunTrust Banks also issued estimates for argenx’s Q3 2018 earnings at ($0.69) EPS, Q4 2018 earnings at ($0.76) EPS, FY2018 earnings at ($2.19) EPS, FY2019 earnings at ($3.80) EPS, FY2020 earnings at ($3.92) EPS, FY2021 earnings at ($4.21) EPS and FY2022 earnings at ($3.45) EPS.

Several other research firms have also issued reports on ARGX. Cowen reaffirmed a “buy” rating on shares of argenx in a research note on Wednesday, June 6th. Stifel Nicolaus initiated coverage on shares of argenx in a research note on Thursday, September 13th. They issued a “buy” rating and a $139.00 price objective for the company. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $154.00 price objective on shares of argenx in a research note on Monday, September 17th. JMP Securities lifted their price objective on shares of argenx to $150.00 and gave the company an “outperform” rating in a research note on Monday, September 17th. Finally, Wedbush lifted their price objective on shares of argenx from $114.00 to $121.00 and gave the company a “positive” rating in a research note on Tuesday, September 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $133.43.

Shares of NASDAQ:ARGX traded down $0.32 during trading on Tuesday, reaching $72.69. 444,148 shares of the company traded hands, compared to its average volume of 175,560. argenx has a 1-year low of $22.21 and a 1-year high of $103.00. The firm has a market capitalization of $2.44 billion, a P/E ratio of -51.92 and a beta of 2.43.

Institutional investors have recently added to or reduced their stakes in the business. Atria Investments LLC bought a new position in shares of argenx during the 2nd quarter worth about $213,000. Fred Alger Management Inc. increased its holdings in shares of argenx by 50.0% during the 2nd quarter. Fred Alger Management Inc. now owns 3,000 shares of the company’s stock worth $249,000 after purchasing an additional 1,000 shares during the period. Aperio Group LLC bought a new position in shares of argenx during the 1st quarter worth about $268,000. Dimensional Fund Advisors LP bought a new position in shares of argenx during the 1st quarter worth about $498,000. Finally, US Bancorp DE bought a new position in shares of argenx during the 1st quarter worth about $598,000. 56.14% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Compound Annual Growth Rate (CAGR)

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