argenx (NASDAQ:ARGX) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of argenx (NASDAQ:ARGX - Free Report) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $717.00 target price on the stock, up from their prior target price of $670.00.

A number of other analysts also recently commented on ARGX. Baird R W downgraded shares of argenx from a "strong-buy" rating to a "hold" rating in a report on Friday, November 1st. Citigroup upped their price target on shares of argenx from $512.00 to $635.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Evercore ISI raised their price objective on shares of argenx from $675.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. JMP Securities upped their target price on argenx from $606.00 to $696.00 and gave the company a "market outperform" rating in a research note on Tuesday. Finally, Truist Financial reiterated a "buy" rating and set a $700.00 target price (up previously from $660.00) on shares of argenx in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $658.39.

argenx Price Performance

NASDAQ ARGX traded down $4.80 on Tuesday, hitting $665.60. 388,015 shares of the company's stock were exchanged, compared to its average volume of 279,439. The firm's 50-day moving average price is $615.14 and its two-hundred day moving average price is $551.05. The firm has a market cap of $40.18 billion, a price-to-earnings ratio of -756.36 and a beta of 0.59. argenx has a fifty-two week low of $349.86 and a fifty-two week high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to analysts' expectations of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter in the prior year, the business posted ($1.25) earnings per share. On average, research analysts predict that argenx will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of argenx

Institutional investors and hedge funds have recently made changes to their positions in the company. Stifel Financial Corp grew its position in argenx by 15.3% during the third quarter. Stifel Financial Corp now owns 8,832 shares of the company's stock valued at $4,788,000 after acquiring an additional 1,170 shares during the period. FMR LLC grew its holdings 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 purchasing an additional 1,265,486 shares during the period. Simplify Asset Management Inc. increased its position in argenx by 64.0% during the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company's stock worth $1,311,000 after purchasing an additional 944 shares in the last quarter. Perpetual Ltd purchased a new position in argenx in the third quarter valued at approximately $76,314,000. Finally, Logos Global Management LP purchased a new position in argenx in the second quarter valued at approximately $58,055,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.