argenx (NASDAQ:ARGX) Receives “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of argenx (NASDAQ:ARGX) in a report released on Tuesday,RTT News reports. Wedbush currently has a $655.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Citigroup increased their target price on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Evercore ISI increased their price objective on shares of argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. raised their price objective on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a report on Monday, November 4th. 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, Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $635.42.

argenx Trading Down 1.8 %

Shares of NASDAQ ARGX opened at $606.47 on Tuesday. The company has a fifty day moving average price of $567.51 and a 200 day moving average price of $499.76. argenx has a 1-year low of $327.73 and a 1-year high of $622.32. The firm has a market cap of $36.61 billion, a PE ratio of -689.17 and a beta of 0.59.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data 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 business had revenue of $588.88 million during the quarter, compared to the consensus estimate 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 last year, the company earned ($1.25) earnings per share. Equities research analysts forecast 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. Cetera Advisors LLC bought a new position in argenx during the 1st quarter worth $419,000. DekaBank Deutsche Girozentrale increased its position in argenx by 1.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 8,445 shares of the company’s stock worth $3,320,000 after acquiring an additional 128 shares during the period. GAMMA Investing LLC raised its stake in argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after purchasing an additional 40 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in argenx by 7.2% in the 2nd quarter. Park Avenue Securities LLC now owns 1,324 shares of the company’s stock valued at $569,000 after purchasing an additional 89 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of argenx by 10.4% during the 2nd quarter. SG Americas Securities LLC now owns 2,999 shares of the company’s stock worth $1,290,000 after purchasing an additional 283 shares in the last quarter. 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.