argenx (NASDAQ:ARGX) Trading 2.7% Higher Following Analyst Upgrade

argenx SE (NASDAQ:ARGX) rose 2.7% on Tuesday after Truist Financial raised their price target on the stock from $440.00 to $480.00. Truist Financial currently has a buy rating on the stock. argenx traded as high as $455.76 and last traded at $452.47. Approximately 58,359 shares were traded during trading, a decline of 81% from the average daily volume of 307,929 shares. The stock had previously closed at $440.59.

A number of other brokerages have also recently weighed in on ARGX. JMP Securities reduced their price target on shares of argenx from $471.00 to $468.00 and set a “market outperform” rating on the stock in a research report on Friday, May 10th. JPMorgan Chase & Co. reduced their price target on shares of argenx from $560.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Scotiabank lifted their price target on shares of argenx from $402.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 26th. Robert W. Baird cut their price objective on shares of argenx from $505.00 to $490.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Finally, Morgan Stanley cut their price objective on shares of argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 28th. Five investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $525.53.

Institutional Investors Weigh In On argenx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its stake in shares of argenx by 23.1% during the 1st quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock worth $78,000 after purchasing an additional 37 shares during the last quarter. Wahed Invest LLC increased its stake in shares of argenx by 9.6% during the 4th quarter. Wahed Invest LLC now owns 457 shares of the company’s stock worth $174,000 after purchasing an additional 40 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of argenx by 2.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,530 shares of the company’s stock worth $582,000 after purchasing an additional 41 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of argenx by 3.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,428 shares of the company’s stock worth $543,000 after purchasing an additional 43 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of argenx by 16.5% during the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock worth $119,000 after purchasing an additional 43 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Trading Up 2.5 %

The company has a market capitalization of $26.84 billion, a price-to-earnings ratio of -79.78 and a beta of 0.65. The firm’s 50 day moving average price is $378.25 and its two-hundred day moving average price is $386.48.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.33). The firm had revenue of $412.51 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned ($0.52) earnings per share. As a group, equities research analysts predict that argenx SE will post -2.75 EPS for the current year.

About argenx

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.