Stifel Nicolaus Analysts Give argenx (ARGX) a $139.00 Price Target

Stifel Nicolaus set a $139.00 target price on argenx (NASDAQ:ARGX) in a research report report published on Tuesday morning. The firm currently has a buy rating on the stock.

“We continue to remain positive on the stock at these levels and reiterate our Buy rating. Key Points The AML development landscape is crowded but ARGX-110 stands alone as the only program targeting CD70. Given the poor outcomes in the elderly and high relapse rates in AML, there are many broad and targeted treatments (i.e., specific mutations, immunotherapies) currently in development. KOLs we spoke with indicated there is no silver bullet” when treating the disease and there certainly seems room for new treatments.”,” the firm’s analyst wrote.

Other analysts also recently issued reports about the stock. Nomura initiated coverage on shares of argenx in a report on Friday, June 29th. They issued a buy rating and a $161.00 target price on the stock. SunTrust Banks boosted their target price on shares of argenx to $132.00 and gave the stock an in-line rating in a report on Tuesday, September 18th. JMP Securities boosted their target price on shares of argenx to $150.00 and gave the stock an outperform rating in a report on Monday, September 17th. Evercore ISI started coverage on shares of argenx in a report on Monday. They set an outperform rating and a $110.00 price target on the stock. Finally, Wedbush upped their price target on shares of argenx from $93.00 to $114.00 and gave the company an outperform rating in a report on Monday, June 25th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. argenx has an average rating of Buy and a consensus target price of $130.50.

argenx stock opened at $83.77 on Tuesday. argenx has a twelve month low of $22.21 and a twelve month high of $103.00. The stock has a market capitalization of $2.44 billion, a PE ratio of -59.84 and a beta of 2.43.

A number of large investors have recently modified their holdings of the stock. FMR LLC grew its holdings in argenx by 0.5% during the 2nd quarter. FMR LLC now owns 3,094,388 shares of the company’s stock valued at $256,400,000 after purchasing an additional 14,791 shares during the last quarter. Millennium Management LLC grew its holdings in argenx by 39.7% during the 1st quarter. Millennium Management LLC now owns 832,176 shares of the company’s stock valued at $66,940,000 after purchasing an additional 236,662 shares during the last quarter. Federated Investors Inc. PA grew its holdings in argenx by 2.8% during the 2nd quarter. Federated Investors Inc. PA now owns 822,745 shares of the company’s stock valued at $68,173,000 after purchasing an additional 22,745 shares during the last quarter. Redmile Group LLC grew its holdings in argenx by 182.2% during the 2nd quarter. Redmile Group LLC now owns 673,300 shares of the company’s stock valued at $55,790,000 after purchasing an additional 434,700 shares during the last quarter. Finally, Orbimed Advisors LLC grew its holdings in argenx by 19.9% during the 2nd quarter. Orbimed Advisors LLC now owns 599,300 shares of the company’s stock valued at $49,658,000 after purchasing an additional 99,300 shares during the last quarter. Institutional investors own 56.14% of the company’s stock.

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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