argenx (NASDAQ:ARGX) Stock Rating Reaffirmed by Raymond James

argenx (NASDAQ:ARGX)‘s stock had its “strong-buy” rating reaffirmed by investment analysts at Raymond James in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a $605.00 target price on the stock. Raymond James’ price objective would suggest a potential upside of 12.73% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of argenx from $485.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Evercore ISI upped their price target on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. HC Wainwright raised their price objective on argenx from $504.00 to $533.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Truist Financial boosted their target price on argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company raised their price target on argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, argenx currently has a consensus rating of “Moderate Buy” and a consensus price target of $548.00.

argenx Stock Performance

Shares of NASDAQ:ARGX opened at $536.70 on Thursday. The firm has a market capitalization of $32.09 billion, a P/E ratio of -152.47 and a beta of 0.63. The stock has a 50 day moving average price of $527.60 and a 200-day moving average price of $448.21. argenx has a 52-week low of $327.73 and a 52-week high of $554.74.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The business had revenue of $489.43 million during the quarter, compared to the consensus estimate of $436.66 million. During the same quarter in the prior year, the company earned ($1.69) earnings per share. On average, equities analysts forecast that argenx will post -0.37 EPS for the current fiscal year.

Institutional Trading of argenx

Several large investors have recently modified their holdings of ARGX. Blue Trust Inc. lifted its holdings in argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after acquiring an additional 62 shares during the period. J.Safra Asset Management Corp boosted its holdings in shares of 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 during the last quarter. GAMMA Investing LLC grew its position in argenx by 420.0% during the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 63 shares during the period. Mather Group LLC. bought a new stake in argenx during the first quarter valued at approximately $38,000. Finally, Point72 Hong Kong Ltd purchased a new stake in argenx during the second quarter valued at approximately $76,000. Institutional investors own 60.32% of the company’s stock.

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.