argenx (NASDAQ:ARGX) Downgraded by Baird R W to Hold

Baird R W cut shares of argenx (NASDAQ:ARGX - Free Report) from a strong-buy rating to a hold rating in a research report released on Friday morning, Zacks.com reports.

Other equities research analysts have also issued reports about the company. Guggenheim increased their price target on argenx from $585.00 to $665.00 and gave the stock a "buy" rating in a research report on Friday. Truist Financial raised their target price on argenx from $540.00 to $660.00 and gave the company a "buy" rating in a research note on Thursday. William Blair raised shares of argenx from a "market perform" rating to an "outperform" rating in a report on Friday. HC Wainwright increased their price target on shares of argenx from $533.00 to $617.00 and gave the company a "buy" rating in a research note on Friday. Finally, Wedbush upped their price objective on argenx from $519.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $596.78.

argenx Price Performance

Shares of argenx stock traded up $9.28 during midday trading on Friday, hitting $595.58. 468,633 shares of the company were exchanged, compared to its average volume of 309,272. The firm has a 50 day simple moving average of $539.46 and a 200-day simple moving average of $465.81. argenx has a 52 week low of $327.73 and a 52 week high of $610.73. The firm has a market cap of $35.61 billion, a P/E ratio of -676.80 and a beta of 0.63.

argenx (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $1.29. The company 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 7.33% and a negative net margin of 12.31%. During the same period last year, the business earned ($1.25) earnings per share. Equities research analysts expect that argenx will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Several large investors have recently made changes to their positions in the stock. TD Asset Management Inc boosted its stake in shares of argenx by 15.4% during the 1st quarter. TD Asset Management Inc now owns 223,695 shares of the company's stock worth $88,073,000 after buying an additional 29,810 shares during the last quarter. Seven Eight Capital LP grew its position in argenx by 66.4% during the first quarter. Seven Eight Capital LP now owns 3,110 shares of the company's stock worth $1,224,000 after buying an additional 1,241 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of argenx by 36.5% in the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company's stock worth $234,766,000 after purchasing an additional 159,480 shares during the period. FORA Capital LLC bought a new position in argenx in the first quarter valued at approximately $2,024,000. Finally, Mediolanum International Funds Ltd acquired a new position in argenx during the first quarter worth about $4,570,000. 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.