argenx’s (ARGX) “Buy” Rating Reaffirmed at Truist Financial

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating restated by analysts at Truist Financial in a research report issued on Tuesday,Benzinga reports. They currently have a $700.00 price objective on the stock, up from their previous price objective of $660.00. Truist Financial’s target price suggests a potential upside of 5.23% from the company’s previous close.

Other research analysts have also issued reports about the company. HC Wainwright reiterated a “buy” rating and issued a $617.00 price objective on shares of argenx in a research report on Wednesday, November 20th. Wedbush restated an “outperform” rating and set a $655.00 price target on shares of argenx in a report on Tuesday, December 3rd. Piper Sandler boosted their price target on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Raymond James reaffirmed a “strong-buy” rating and set a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. Finally, Guggenheim lifted their target price on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $658.39.

argenx Stock Down 0.1 %

ARGX opened at $665.19 on Tuesday. argenx has a 52-week low of $349.86 and a 52-week high of $678.21. The firm’s fifty day simple moving average is $616.41 and its two-hundred day simple moving average is $552.71. The company has a market cap of $40.16 billion, a price-to-earnings ratio of -755.90 and a beta of 0.59.

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

Institutional Investors Weigh In On argenx

Several institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after acquiring an additional 1,265,486 shares during the period. Lord Abbett & CO. LLC purchased a new position in argenx during the third quarter worth about $88,339,000. Perpetual Ltd acquired a new stake in shares of argenx in the third quarter worth approximately $76,314,000. Logos Global Management LP purchased a new position in shares of argenx in the 2nd quarter worth $58,055,000. Finally, Wellington Management Group LLP increased its position in argenx by 13.0% during the 3rd 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 in the last quarter. 60.32% of the stock is currently owned by hedge funds and other 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.