argenx’s (ARGX) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of argenx (NASDAQ:ARGX) in a report issued on Thursday, Benzinga reports. They currently have a $521.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Raymond James reduced their target price on shares of argenx from $580.00 to $520.00 and set a strong-buy rating for the company in a report on Thursday, December 21st. JMP Securities reaffirmed a market outperform rating and issued a $471.00 target price on shares of argenx in a report on Friday, March 22nd. Wolfe Research assumed coverage on shares of argenx in a research note on Thursday, February 15th. They set a peer perform rating on the stock. Wells Fargo & Company boosted their price target on shares of argenx from $472.00 to $478.00 and gave the stock an overweight rating in a research note on Tuesday, February 20th. Finally, Truist Financial boosted their price target on shares of argenx from $370.00 to $440.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, argenx presently has an average rating of Moderate Buy and an average price target of $528.16.

argenx Price Performance

Shares of ARGX opened at $358.41 on Thursday. argenx has a 1-year low of $327.73 and a 1-year high of $550.76. The stock has a market cap of $21.25 billion, a PE ratio of -69.73 and a beta of 0.65. The firm has a fifty day moving average price of $388.25 and a 200 day moving average price of $421.81.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.45). argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. The business had revenue of $417.84 million during the quarter, compared to analysts’ expectations of $378.60 million. During the same period in the previous year, the company posted ($0.70) earnings per share. As a group, equities analysts expect that argenx will post -2.11 EPS for the current fiscal year.

Institutional Trading of argenx

Large investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its position in shares of argenx by 30.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock valued at $5,505,000 after purchasing an additional 3,374 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of argenx by 388.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,719 shares of the company’s stock valued at $1,415,000 after buying an additional 2,958 shares during the period. RTW Investments LP lifted its stake in shares of argenx by 5.2% during the third quarter. RTW Investments LP now owns 507,195 shares of the company’s stock valued at $249,352,000 after buying an additional 25,000 shares during the period. Townsquare Capital LLC lifted its stake in shares of argenx by 96.6% during the third quarter. Townsquare Capital LLC now owns 3,442 shares of the company’s stock valued at $1,692,000 after buying an additional 1,691 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of argenx by 41.1% during the third quarter. Northern Trust Corp now owns 39,936 shares of the company’s stock valued at $19,634,000 after buying an additional 11,627 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren's syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.