argenx’s (ARGX) “Buy” Rating Reaffirmed at Bank of America

Bank of America restated their buy rating on shares of argenx (NASDAQ:ARGX) in a research note published on Monday, Benzinga reports. They currently have a $607.00 target price on the stock, up from their previous target price of $535.00.

A number of other analysts also recently commented on ARGX. JPMorgan Chase & Co. decreased their price objective on shares of argenx from $560.00 to $500.00 and set an overweight rating on the stock in a report on Monday, May 13th. Scotiabank upped their price target on shares of argenx from $402.00 to $408.00 and gave the company a sector perform rating in a report on Tuesday, March 26th. Wells Fargo & Company upped their price target on shares of argenx from $478.00 to $542.00 and gave the company an overweight rating in a report on Monday. Truist Financial upped their price target on shares of argenx from $370.00 to $440.00 and gave the company a buy rating in a report on Tuesday, March 5th. Finally, HC Wainwright reaffirmed a buy rating and issued a $448.00 price target on shares of argenx in a report on Monday. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $523.42.

argenx Trading Up 11.7 %

ARGX stock opened at $440.59 on Monday. The company has a market cap of $26.18 billion, a P/E ratio of -77.84 and a beta of 0.65. argenx has a 52 week low of $327.73 and a 52 week high of $550.76. The company’s 50-day moving average price is $376.64 and its 200 day moving average price is $386.49.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Monday, May 13th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). The company had revenue of $412.51 million for the quarter, compared to analysts’ expectations of $404.03 million. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. During the same period in the prior year, the firm posted ($0.52) EPS. On average, equities research analysts expect that argenx will post -2.75 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of argenx by 26.2% in the fourth quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock worth $106,204,000 after acquiring an additional 57,956 shares in the last quarter. Sectoral Asset Management Inc. increased its position in shares of argenx by 717.2% in the fourth quarter. Sectoral Asset Management Inc. now owns 10,027 shares of the company’s stock worth $3,815,000 after acquiring an additional 8,800 shares in the last quarter. Boxer Capital LLC increased its position in shares of argenx by 88.2% in the fourth quarter. Boxer Capital LLC now owns 160,000 shares of the company’s stock worth $60,869,000 after acquiring an additional 75,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of argenx by 9.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 47,583 shares of the company’s stock worth $18,102,000 after acquiring an additional 3,967 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of argenx by 30.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock worth $5,505,000 after acquiring an additional 3,374 shares in the last quarter. Institutional investors and hedge funds 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.