Wedbush Reaffirms Outperform Rating for argenx (NASDAQ:ARGX)

argenx (NASDAQ:ARGX - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Wedbush in a research note issued to investors on Friday,Benzinga reports. They currently have a $715.00 price target on the stock. Wedbush's price target would suggest a potential upside of 21.39% from the company's current price.

ARGX has been the topic of a number of other research reports. Piper Sandler upped their price target on argenx from $620.00 to $725.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Wells Fargo & Company upped their target price on argenx from $723.00 to $741.00 and gave the company an "overweight" rating in a report on Friday, February 28th. William Blair reiterated an "outperform" rating on shares of argenx in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Finally, Oppenheimer raised their target price on argenx from $675.00 to $704.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $690.33.

argenx Stock Performance

Shares of argenx stock traded down $16.38 during trading on Friday, reaching $589.00. 119,481 shares of the company's stock were exchanged, compared to its average volume of 308,113. The company has a market cap of $35.79 billion, a P/E ratio of -669.32 and a beta of 0.60. argenx has a 1-year low of $352.77 and a 1-year high of $678.21. The firm's 50-day moving average price is $605.51 and its 200 day moving average price is $604.95.

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argenx (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $761.22 million during the quarter, compared to analysts' expectations of $678.52 million. As a group, equities research analysts predict that argenx will post 3.13 EPS for the current year.

Institutional Investors Weigh In On argenx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in argenx by 215.8% in the first quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company's stock worth $65,336,000 after purchasing an additional 75,435 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in argenx by 13.1% during the first quarter. Handelsbanken Fonder AB now owns 38,050 shares of the company's stock worth $22,520,000 after acquiring an additional 4,403 shares in the last quarter. Park Avenue Securities LLC grew its holdings in argenx by 6.4% in the first quarter. Park Avenue Securities LLC now owns 1,804 shares of the company's stock worth $1,068,000 after purchasing an additional 109 shares during the period. Whipplewood Advisors LLC increased its stake in shares of argenx by 350.0% during the first quarter. Whipplewood Advisors LLC now owns 270 shares of the company's stock valued at $160,000 after purchasing an additional 210 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of argenx by 53,684.9% in the 1st quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock worth $802,200,000 after purchasing an additional 135,286 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

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.