argenx (NASDAQ:ARGX) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of argenx (NASDAQ:ARGX - Free Report) from a peer perform rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. Wolfe Research currently has $697.00 target price on the stock.

ARGX has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their target price on argenx from $640.00 to $670.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered argenx from a "buy" rating to a "hold" rating in a research note on Friday, October 4th. Raymond James reissued a "strong-buy" rating and issued a $605.00 price objective on shares of argenx in a research note on Thursday, October 10th. Robert W. Baird lowered shares of argenx from an "outperform" rating to a "neutral" rating and lifted their price objective for the company from $515.00 to $650.00 in a report on Friday, November 1st. Finally, William Blair raised argenx from a "market perform" rating to an "outperform" rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $619.79.

argenx Stock Up 0.8 %

Shares of ARGX stock traded up $4.88 during trading on Tuesday, reaching $593.82. 120,675 shares of the company's stock were exchanged, compared to its average volume of 306,202. The firm's fifty day moving average price is $548.48 and its 200-day moving average price is $476.70. argenx has a twelve month low of $327.73 and a twelve month high of $611.22. The stock has a market capitalization of $35.51 billion, a PE ratio of -669.25 and a beta of 0.61.

argenx (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The firm had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. During the same period last year, the company earned ($1.25) earnings per share. As a group, analysts anticipate that argenx will post 2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in shares of argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company's stock worth $28,000 after acquiring an additional 62 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in shares of argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company's stock worth $30,000 after acquiring an additional 59 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company's stock worth $51,000 after acquiring an additional 40 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of argenx in the 2nd quarter worth about $76,000. Finally, Cromwell Holdings LLC raised its holdings in shares of argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock worth $85,000 after acquiring an additional 66 shares during the last quarter. Institutional investors own 60.32% of the company's stock.

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.