argenx (ARGX) Given New $150.00 Price Target at JMP Securities

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argenx (NASDAQ:ARGX) had its target price raised by equities research analysts at JMP Securities to $150.00 in a report released on Monday, September 17th, The Fly reports. The brokerage currently has an “outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 106.36% from the company’s current price.

Several other equities analysts have also commented on the stock. Stifel Nicolaus started coverage on shares of argenx in a research note on Thursday, September 13th. They issued a “buy” rating and a $139.00 price target on the stock. Piper Jaffray Companies reissued an “overweight” rating and issued a $154.00 price objective on shares of argenx in a report on Monday, September 17th. Cowen reissued a “buy” rating on shares of argenx in a report on Wednesday, June 6th. ValuEngine raised argenx from a “hold” rating to a “buy” rating in a report on Friday, June 1st. Finally, Nomura assumed coverage on argenx in a report on Friday, June 29th. They issued a “buy” rating and a $161.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. argenx currently has an average rating of “Buy” and a consensus target price of $133.43.

argenx stock traded down $0.32 during mid-day trading on Monday, hitting $72.69. The company had a trading volume of 444,148 shares, compared to its average volume of 175,560. The firm has a market capitalization of $2.44 billion, a P/E ratio of -51.92 and a beta of 2.43. argenx has a 1 year low of $22.21 and a 1 year high of $103.00.

Several hedge funds and other institutional investors have recently modified their holdings of ARGX. Redmile Group LLC lifted its holdings in shares of argenx by 182.2% during the second quarter. Redmile Group LLC now owns 673,300 shares of the company’s stock worth $55,790,000 after purchasing an additional 434,700 shares during the period. Millennium Management LLC lifted its holdings in shares of argenx by 39.7% during the first quarter. Millennium Management LLC now owns 832,176 shares of the company’s stock worth $66,940,000 after purchasing an additional 236,662 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of argenx during the first quarter worth $13,373,000. Citadel Advisors LLC acquired a new stake in shares of argenx during the first quarter worth $8,671,000. Finally, Eventide Asset Management LLC acquired a new stake in shares of argenx during the first quarter worth $8,044,000. 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.

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