argenx (NASDAQ:ARGX) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of argenx (NASDAQ:ARGX) from a market perform rating to an outperform rating in a report published on Monday morning, Marketbeat.com reports.

Several other brokerages also recently weighed in on ARGX. Piper Sandler boosted their target price on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Wedbush reissued an “outperform” rating and issued a $655.00 price objective on shares of argenx in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their target price on shares of argenx from $723.00 to $741.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. JMP Securities raised their price target on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, argenx has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

argenx Stock Performance

argenx stock opened at $619.97 on Monday. The company has a market cap of $37.67 billion, a P/E ratio of -704.51 and a beta of 0.59. argenx has a one year low of $349.86 and a one year high of $678.21. The business has a fifty day moving average of $636.24 and a two-hundred day moving average of $598.37.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.60. The business had revenue of $761.22 million for the quarter, compared to analysts’ expectations of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. Sell-side analysts predict that argenx will post 3.13 EPS for the current year.

Hedge Funds Weigh In On argenx

Large investors have recently added to or reduced their stakes in the company. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of argenx during the fourth quarter worth $267,000. Brucke Financial Inc. bought a new stake in shares of argenx during the 4th quarter valued at about $412,000. Mackenzie Financial Corp raised its stake in argenx by 81.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,449 shares of the company’s stock worth $2,736,000 after acquiring an additional 1,996 shares during the period. GF Fund Management CO. LTD. bought a new position in argenx in the fourth quarter worth about $416,000. Finally, Vise Technologies Inc. boosted its stake in argenx by 6.8% in the fourth quarter. Vise Technologies Inc. now owns 799 shares of the company’s stock valued at $491,000 after acquiring an additional 51 shares during the period. 60.32% of the stock is currently owned by institutional investors.

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.