argenx (NASDAQ:ARGX) Receives Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of argenx (NASDAQ:ARGX) in a research note issued to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a $700.00 price target on the stock, up from their previous price target of $660.00.

Several other equities research analysts have also commented on ARGX. Wells Fargo & Company increased their price objective on shares of argenx from $639.00 to $723.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Evercore ISI lifted their price target on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Baird R W cut argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Raymond James reaffirmed a “strong-buy” rating and set a $605.00 target price on shares of argenx in a research report on Thursday, October 10th. Finally, Scotiabank raised shares of argenx from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, argenx currently has a consensus rating of “Moderate Buy” and a consensus target price of $658.39.

argenx Trading Down 0.7 %

Shares of argenx stock opened at $665.60 on Tuesday. The company has a market capitalization of $40.18 billion, a P/E ratio of -756.36 and a beta of 0.59. The stock has a fifty day simple moving average of $615.14 and a 200 day simple moving average of $551.05. argenx has a 12-month low of $349.86 and a 12-month high of $678.21.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. During the same quarter in the prior year, the business posted ($1.25) EPS. On average, analysts predict that argenx will post 2.2 EPS for the current year.

Institutional Investors Weigh In On argenx

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in shares of argenx by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 5,671 shares of the company’s stock valued at $2,439,000 after purchasing an additional 164 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in argenx by 11.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,255 shares of the company’s stock worth $1,400,000 after purchasing an additional 339 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in argenx by 13.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 62,999 shares of the company’s stock worth $27,092,000 after purchasing an additional 7,645 shares during the period. Dimensional Fund Advisors LP grew its holdings in argenx by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,388 shares of the company’s stock valued at $8,339,000 after buying an additional 1,438 shares in the last quarter. Finally, Wealth Alliance increased its position in shares of argenx by 4.8% during the second quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after buying an additional 29 shares during the period. Hedge funds and other 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.