argenx (NASDAQ:ARGX) Receives “Buy” Rating from HC Wainwright

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They currently have a $451.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 23.16% from the stock’s previous close.

A number of other research firms also recently issued reports on ARGX. Scotiabank boosted their price target on argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 26th. William Blair downgraded argenx from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 20th. Robert W. Baird lowered their price target on argenx from $505.00 to $490.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Raymond James lowered their price target on argenx from $580.00 to $520.00 and set a “strong-buy” rating for the company in a research report on Thursday, December 21st. Finally, JMP Securities reissued a “market outperform” rating and set a $471.00 price target on shares of argenx in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $530.74.

argenx Stock Performance

argenx stock opened at $366.20 on Thursday. The stock has a fifty day moving average of $388.98 and a two-hundred day moving average of $422.26. The company has a market capitalization of $21.72 billion, a price-to-earnings ratio of -71.25 and a beta of 0.65. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $550.76.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Capital World Investors lifted its stake in argenx by 37.0% during the fourth quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock worth $746,099,000 after purchasing an additional 530,181 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of argenx by 339.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 581,586 shares of the company’s stock valued at $285,925,000 after acquiring an additional 449,151 shares during the last quarter. Morgan Stanley raised its stake in shares of argenx by 236.9% in the fourth quarter. Morgan Stanley now owns 630,330 shares of the company’s stock valued at $238,788,000 after acquiring an additional 443,217 shares during the last quarter. Jennison Associates LLC raised its stake in shares of argenx by 32.2% in the third quarter. Jennison Associates LLC now owns 1,511,745 shares of the company’s stock valued at $743,219,000 after acquiring an additional 368,367 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of argenx by 12.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock valued at $1,207,666,000 after acquiring an additional 346,178 shares during the last quarter. Institutional investors own 60.32% of the company’s stock.

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.