argenx (NASDAQ:ARGX) Upgraded by Robert W. Baird to Outperform Rating

argenx (NASDAQ:ARGX) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $680.00 price target on the stock. Robert W. Baird’s target price indicates a potential upside of 21.23% from the company’s previous close.

A number of other analysts have also recently commented on ARGX. Wedbush reiterated an “outperform” rating and issued a $715.00 target price on shares of argenx in a research note on Friday, April 11th. JMP Securities lifted their price objective on shares of argenx from $606.00 to $696.00 and gave the stock a “market outperform” rating in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised shares of argenx from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Oppenheimer raised their target price on argenx from $704.00 to $708.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company lifted their price target on argenx from $723.00 to $741.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $697.94.

argenx Price Performance

argenx stock opened at $560.90 on Tuesday. argenx has a 1-year low of $352.77 and a 1-year high of $678.21. The business has a fifty day moving average price of $594.76 and a 200-day moving average price of $613.84. The stock has a market capitalization of $34.25 billion, a price-to-earnings ratio of -637.39 and a beta of 0.57.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, May 8th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.26. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $748.34 million. On average, equities research analysts anticipate that argenx will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenx

A number of hedge funds have recently added to or reduced their stakes in ARGX. GeoWealth Management LLC raised its stake in shares of argenx by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock worth $31,000 after buying an additional 18 shares during the period. Whipplewood Advisors LLC acquired a new position in argenx during the fourth quarter worth $37,000. Global Retirement Partners LLC lifted its holdings in argenx by 369.2% during the fourth quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock valued at $38,000 after purchasing an additional 48 shares in the last quarter. FIL Ltd acquired a new stake in shares of argenx in the fourth quarter valued at about $38,000. Finally, Rakuten Securities Inc. increased its stake in shares of argenx by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock worth $36,000 after purchasing an additional 22 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other 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.