argenx’s (ARGX) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of argenx (NASDAQ:ARGX) in a research report released on Wednesday morning, Benzinga reports. They currently have a $519.00 target price on the stock. Wedbush also issued estimates for argenx’s Q2 2024 earnings at ($1.67) EPS, Q3 2024 earnings at ($1.58) EPS, Q4 2024 earnings at ($1.34) EPS, FY2024 earnings at ($5.63) EPS, Q1 2025 earnings at ($0.63) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at ($0.83) EPS, FY2026 earnings at $9.92 EPS and FY2027 earnings at $28.75 EPS.

A number of other research firms have also recently commented on ARGX. Bank of America reiterated a buy rating and set a $607.00 target price (up from $535.00) on shares of argenx in a research note on Monday. Robert W. Baird lowered their target price on argenx from $505.00 to $490.00 and set an outperform rating on the stock in a research note on Friday, March 1st. Piper Sandler lifted their target price on argenx from $522.00 to $535.00 and gave the stock an overweight rating in a research note on Monday. Truist Financial boosted their price objective on argenx from $440.00 to $480.00 and gave the company a buy rating in a research note on Tuesday. Finally, William Blair restated a market perform rating on shares of argenx in a research note on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $525.42.

argenx Price Performance

ARGX opened at $445.88 on Wednesday. The company has a market capitalization of $26.50 billion, a price-to-earnings ratio of -78.78 and a beta of 0.65. The firm’s fifty day moving average price is $379.85 and its two-hundred day moving average price is $386.89. argenx has a 1 year low of $327.73 and a 1 year high of $550.76.

argenx (NASDAQ:ARGX) last released its earnings results on Monday, May 13th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). The business had revenue of $412.51 million for the quarter, compared to the consensus estimate 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 previous year, the firm earned ($0.52) earnings per share. As a group, equities analysts anticipate that argenx will post -2.89 EPS for the current year.

Institutional Investors Weigh In On argenx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust bought a new stake in shares of argenx during the third quarter valued at about $28,000. GAMMA Investing LLC grew its holdings in shares of argenx by 420.0% during the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 63 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of argenx during the fourth quarter worth about $38,000. Mather Group LLC. purchased a new position in shares of argenx during the first quarter worth about $38,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of argenx during the fourth quarter worth about $60,000. 60.32% of the stock is currently owned by institutional investors.

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.