argenx’s (ARGX) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of argenx (NASDAQ:ARGX) in a research report report published on Tuesday,Benzinga reports. They currently have a $720.00 target price on the stock.

A number of other equities research analysts have also commented on the stock. Sanford C. Bernstein raised shares of argenx from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Guggenheim dropped their target price on argenx from $1,100.00 to $1,065.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Robert W. Baird upgraded shares of argenx from a “neutral” rating to an “outperform” rating and set a $680.00 price objective for the company in a research note on Tuesday, May 13th. Finally, JMP Securities set a $699.00 price target on shares of argenx in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, argenx currently has a consensus rating of “Buy” and a consensus price target of $709.18.

argenx Stock Performance

argenx stock opened at $586.76 on Tuesday. argenx has a twelve month low of $377.47 and a twelve month high of $678.21. The firm’s 50 day moving average price is $586.93 and its two-hundred day moving average price is $611.85. The firm has a market cap of $35.83 billion, a PE ratio of -666.77 and a beta of 0.39.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, May 8th. The company reported $2.58 EPS for the quarter, topping 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 business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. Equities analysts anticipate that argenx will post 3.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Choreo LLC boosted its position in argenx by 4.4% during the fourth quarter. Choreo LLC now owns 551 shares of the company’s stock valued at $342,000 after purchasing an additional 23 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in argenx by 47.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,776 shares of the company’s stock valued at $1,092,000 after acquiring an additional 574 shares during the period. Stephens Inc. AR acquired a new position in argenx during the fourth quarter valued at $310,000. Marks Group Wealth Management Inc boosted its stake in shares of argenx by 11.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,316 shares of the company’s stock worth $809,000 after buying an additional 138 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of argenx by 38,152.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company’s stock worth $89,391,000 after purchasing an additional 143,834 shares during the period. Hedge funds and other 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.