argenx’s (ARGX) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of argenx (NASDAQ:ARGX) in a report published on Tuesday,RTT News reports. They currently have a $655.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Truist Financial lifted their price objective on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Baird R W cut shares of argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their price objective on shares of argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. JMP Securities upped their target price on shares of argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Finally, Robert W. Baird downgraded shares of argenx from an “outperform” rating to a “neutral” rating and raised their price target for the company from $515.00 to $650.00 in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, argenx currently has a consensus rating of “Moderate Buy” and a consensus target price of $635.42.

argenx Trading Up 0.2 %

ARGX opened at $626.12 on Tuesday. The stock has a fifty day simple moving average of $572.79 and a two-hundred day simple moving average of $503.18. The company has a market cap of $37.80 billion, a price-to-earnings ratio of -711.50 and a beta of 0.59. argenx has a 12-month low of $327.73 and a 12-month high of $630.00.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the prior year, the company earned ($1.25) earnings per share. On average, analysts predict that argenx will post 2.2 EPS for the current year.

Institutional Investors Weigh In On argenx

Hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in argenx during the third quarter valued at about $652,000. Sanctuary Advisors LLC grew its stake in shares of argenx by 17.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,064 shares of the company’s stock valued at $1,119,000 after acquiring an additional 308 shares during the period. M&T Bank Corp increased its holdings in argenx by 7.2% in the 3rd quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock worth $2,335,000 after acquiring an additional 289 shares in the last quarter. MML Investors Services LLC increased its holdings in argenx by 16.9% in the 3rd quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock worth $4,715,000 after acquiring an additional 1,255 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in argenx by 2.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,800 shares of the company’s stock worth $4,768,000 after acquiring an additional 234 shares during the period. Institutional investors own 60.32% of the company’s stock.

About argenx

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.