argenx (NASDAQ:ARGX) Given “Outperform” Rating at Oppenheimer

Oppenheimer reissued their outperform rating on shares of argenx (NASDAQ:ARGX) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $675.00 target price on the stock, up from their prior target price of $646.00.

Several other research firms have also issued reports on ARGX. Piper Sandler upped their target price on argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Citigroup upped their target price on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Truist Financial upped their target price on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and a consensus target price of $630.42.

argenx Price Performance

ARGX stock opened at $605.92 on Thursday. The stock has a market capitalization of $36.23 billion, a P/E ratio of -688.55 and a beta of 0.61. The business has a 50-day moving average of $557.73 and a 200-day moving average of $489.55. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $611.22.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.29. The company had revenue of $588.88 million during 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 period in the prior year, the firm earned ($1.25) earnings per share. Equities analysts expect that argenx will post 2.2 EPS for the current year.

Hedge Funds Weigh In On argenx

A number of large investors have recently made changes to their positions in the company. M&T Bank Corp increased its stake in shares of argenx by 7.2% during the third quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock worth $2,335,000 after purchasing an additional 289 shares during the period. MML Investors Services LLC increased its stake in shares of argenx by 16.9% during the third quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock worth $4,715,000 after purchasing an additional 1,255 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of argenx by 2.7% during the third quarter. Orion Portfolio Solutions LLC now owns 8,800 shares of the company’s stock worth $4,768,000 after purchasing an additional 234 shares during the period. XTX Topco Ltd increased its stake in shares of argenx by 50.7% during the third quarter. XTX Topco Ltd now owns 5,030 shares of the company’s stock worth $2,727,000 after purchasing an additional 1,693 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of argenx by 13.0% during the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after purchasing an additional 55,617 shares during the period. Institutional investors 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.