argenx (NASDAQ:ARGX) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of argenx (NASDAQ:ARGX) in a report issued on Wednesday, Benzinga reports. The firm currently has a $451.00 target price on the stock.

Several other analysts have also recently commented on ARGX. Wells Fargo & Company raised their price objective on shares of argenx from $472.00 to $478.00 and gave the company an overweight rating in a research note on Tuesday, February 20th. JMP Securities restated a market outperform rating and set a $471.00 target price on shares of argenx in a report on Friday, March 22nd. William Blair downgraded shares of argenx from an outperform rating to a market perform rating in a report on Wednesday, December 20th. Morgan Stanley dropped their target price on shares of argenx from $607.00 to $586.00 and set an overweight rating for the company in a report on Thursday, November 30th. Finally, Piper Sandler lifted their price target on shares of argenx from $518.00 to $522.00 and gave the stock an overweight rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $530.74.

argenx Price Performance

Shares of NASDAQ:ARGX opened at $393.72 on Wednesday. The stock has a market cap of $23.35 billion, a P/E ratio of -76.60 and a beta of 0.65. The firm has a fifty day moving average price of $388.49 and a 200 day moving average price of $434.03. argenx has a 1-year low of $327.73 and a 1-year high of $550.76.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.45). argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. The firm had revenue of $417.84 million during the quarter, compared to analyst estimates of $378.60 million. During the same quarter last year, the business posted ($0.70) EPS. Sell-side analysts expect that argenx will post -2.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARGX. KB Financial Partners LLC increased its stake in shares of argenx by 112.5% in the first quarter. KB Financial Partners LLC now owns 85 shares of the company’s stock worth $27,000 after buying an additional 45 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of argenx in the fourth quarter worth $27,000. Parkside Financial Bank & Trust bought a new stake in argenx during the third quarter valued at $28,000. FNY Investment Advisers LLC bought a new stake in argenx during the fourth quarter valued at $38,000. Finally, Captrust Financial Advisors increased its stake in argenx by 116.7% during the first quarter. Captrust Financial Advisors now owns 143 shares of the company’s stock valued at $45,000 after purchasing an additional 77 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

About argenx

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, the Netherlands, Belgium, Japan, Switzerland, Germany, France, Canada, the United Kingdom, and Italy. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, pemphigus foliaceus, chronic inflammatory demyelinating polyneuropathy, bullous pemphigoid, and idiopathic inflammatory myopathy; and ENHANZE SC.