argenx (NASDAQ:ARGX) Rating Increased to Outperform at Sanford C. Bernstein

argenx (NASDAQ:ARGX - Get Free Report) was upgraded by Sanford C. Bernstein from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Monday, Marketbeat.com reports.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird boosted their price target on shares of argenx from $650.00 to $680.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Piper Sandler boosted their target price on argenx from $620.00 to $725.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Guggenheim raised their price target on argenx from $775.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Oppenheimer boosted their price objective on argenx from $675.00 to $704.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company raised 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. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, argenx currently has an average rating of "Moderate Buy" and an average target price of $687.00.

argenx Price Performance

Shares of ARGX stock traded up $7.08 during trading on Monday, hitting $618.26. 273,304 shares of the stock traded hands, compared to its average volume of 287,873. The firm has a market capitalization of $37.57 billion, a P/E ratio of -702.56 and a beta of 0.59. argenx has a 52-week low of $349.86 and a 52-week high of $678.21. The firm's fifty day moving average price is $636.83 and its 200-day moving average price is $598.22.

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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 the consensus estimate of $0.98 by $0.60. The business had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. As a group, equities research analysts expect that argenx will post 3.13 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of argenx by 35.9% during the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company's stock worth $2,598,445,000 after buying an additional 1,265,486 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in argenx during the 3rd quarter worth $88,339,000. Point72 Asset Management L.P. purchased a new stake in argenx in the fourth quarter valued at $91,013,000. Allspring Global Investments Holdings LLC boosted its stake in argenx by 38,152.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company's stock valued at $89,391,000 after acquiring an additional 143,834 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of argenx by 184.7% during the fourth quarter. Marshall Wace LLP now owns 191,553 shares of the company's stock worth $117,805,000 after purchasing an additional 124,271 shares during the last quarter. 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.