HC Wainwright Begins Coverage on argenx (NASDAQ:ARGX)

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HC Wainwright started coverage on shares of argenx (NASDAQ:ARGX) in a report published on Wednesday, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $272.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. Robert W. Baird increased their price objective on argenx from $170.00 to $235.00 and gave the stock an outperform rating in a report on Wednesday, May 27th. Cowen restated a buy rating on shares of argenx in a report on Wednesday, June 17th. Credit Suisse Group increased their price objective on argenx from $150.00 to $160.00 and gave the stock a neutral rating in a report on Thursday, May 21st. JMP Securities increased their price objective on argenx from $170.00 to $237.00 and gave the stock an outperform rating in a report on Tuesday, May 26th. Finally, Guggenheim restated a buy rating and issued a $225.00 price objective (up previously from $201.00) on shares of argenx in a report on Wednesday, May 27th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $227.18.

NASDAQ ARGX opened at $230.13 on Wednesday. The company has a 50 day simple moving average of $237.95 and a 200-day simple moving average of $174.99. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of -48.65 and a beta of 1.22. argenx has a 52-week low of $103.75 and a 52-week high of $272.74.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($1.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.15). The firm had revenue of $21.15 million for the quarter, compared to analyst estimates of $18.08 million. As a group, equities research analysts predict that argenx will post -9.99 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Caxton Associates LP bought a new stake in shares of argenx in the first quarter valued at approximately $255,000. Wells Fargo & Company MN boosted its position in shares of argenx by 30.3% in the first quarter. Wells Fargo & Company MN now owns 22,900 shares of the company’s stock valued at $3,016,000 after acquiring an additional 5,319 shares during the period. Morgan Stanley boosted its position in shares of argenx by 227.1% in the first quarter. Morgan Stanley now owns 24,188 shares of the company’s stock valued at $3,187,000 after acquiring an additional 16,794 shares during the period. BNP Paribas Arbitrage SA bought a new stake in shares of argenx in the first quarter valued at approximately $1,186,000. Finally, UBS Group AG boosted its position in shares of argenx by 70.6% in the first quarter. UBS Group AG now owns 2,707 shares of the company’s stock valued at $357,000 after acquiring an additional 1,120 shares during the period. 49.64% of the stock is owned by institutional investors.

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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