William Blair Upgrades argenx (NASDAQ:ARGX) to Outperform

William Blair upgraded shares of argenx (NASDAQ:ARGX - Free Report) from a market perform rating to an outperform rating in a report published on Friday, Marketbeat reports.

A number of other analysts also recently issued reports on ARGX. Evercore ISI raised their price objective on shares of argenx from $478.00 to $533.00 and gave the stock an "outperform" rating in a report on Friday, July 12th. Wells Fargo & Company boosted their price objective on argenx from $543.00 to $547.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Barclays upgraded shares of argenx from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, August 6th. Raymond James reissued a "strong-buy" rating and issued a $605.00 price target on shares of argenx in a research report on Thursday, October 10th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $585.00 price objective on shares of argenx in a report on Thursday, September 26th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $596.78.

argenx Trading Up 1.5 %

Shares of ARGX traded up $8.51 during trading hours on Friday, reaching $594.81. The stock had a trading volume of 449,545 shares, compared to its average volume of 309,182. The firm has a 50-day simple moving average of $537.88 and a 200 day simple moving average of $464.29. argenx has a 12 month low of $327.73 and a 12 month high of $610.73. The company has a market capitalization of $35.57 billion, a price-to-earnings ratio of -680.98 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. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The firm had revenue of $588.88 million during the quarter, compared to analysts' expectations of $543.29 million. During the same period last year, the company earned ($1.25) earnings per share. On average, equities analysts forecast that argenx will post -0.36 EPS for the current year.

Hedge Funds Weigh In On argenx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted 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 purchasing an additional 62 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company's stock worth $30,000 after buying an additional 59 shares in the last quarter. GAMMA Investing LLC boosted its stake in argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company's stock worth $51,000 after buying an additional 40 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in argenx during the second quarter valued at approximately $76,000. Finally, Cromwell Holdings LLC raised its stake in shares of argenx by 73.3% during the third quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock worth $85,000 after acquiring an additional 66 shares in 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.