HC Wainwright Reiterates Buy Rating for argenx (NASDAQ:ARGX)

HC Wainwright reaffirmed their buy rating on shares of argenx (NASDAQ:ARGX) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $617.00 target price on the stock.

Several other research firms have also weighed in on ARGX. Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Guggenheim lifted their target price on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wedbush increased their price target on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Robert W. Baird cut argenx from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $515.00 to $650.00 in a report on Friday, November 1st. Finally, Raymond James reiterated a “strong-buy” rating and issued a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $630.42.

argenx Stock Up 1.5 %

ARGX stock opened at $605.92 on Wednesday. argenx has a twelve month low of $327.73 and a twelve month high of $611.22. The business’s fifty day moving average is $557.73 and its 200-day moving average is $488.21. The company has a market cap of $36.23 billion, a P/E ratio of -688.55 and a beta of 0.61.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter last year, the business earned ($1.25) earnings per share. Research analysts anticipate that argenx will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of argenx

Hedge funds and other institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC grew its stake in argenx by 32.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,460 shares of the company’s stock valued at $575,000 after purchasing an additional 361 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of argenx by 79.3% in the first quarter. Advisors Asset Management Inc. now owns 588 shares of the company’s stock valued at $232,000 after buying an additional 260 shares in the last quarter. Toronto Dominion Bank increased its holdings in argenx by 16.5% during the first quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock worth $119,000 after buying an additional 43 shares during the last quarter. Avoro Capital Advisors LLC raised its position in argenx by 0.3% during the first quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock worth $487,609,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in argenx by 49.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after acquiring an additional 1,830,651 shares during 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.