argenx (NASDAQ:ARGX) Rating Lowered to “Hold” at Baird R W

argenx (NASDAQ:ARGX) was downgraded by investment analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

Other equities analysts have also issued research reports about the stock. HC Wainwright increased their target price on shares of argenx from $533.00 to $617.00 and gave the company a “buy” rating in a research report on Friday. Raymond James reissued a “strong-buy” rating and issued a $605.00 price objective on shares of argenx in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial boosted their target price on shares of argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Oppenheimer raised their target price on shares of argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a report on Friday. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $596.78.

argenx Trading Up 1.6 %

ARGX stock opened at $595.58 on Friday. The stock’s 50 day simple moving average is $539.46 and its 200 day simple moving average is $465.81. argenx has a 12-month low of $327.73 and a 12-month high of $610.73. The firm has a market cap of $35.61 billion, a P/E ratio of -676.80 and a beta of 0.63.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The business had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. During the same quarter in the previous year, the firm posted ($1.25) EPS. On average, research analysts forecast that argenx will post -0.36 EPS for the current fiscal year.

Institutional Trading of argenx

Several hedge funds and other institutional investors have recently bought and sold shares of ARGX. TD Asset Management Inc increased its stake in argenx by 15.4% in the first quarter. TD Asset Management Inc now owns 223,695 shares of the company’s stock valued at $88,073,000 after acquiring an additional 29,810 shares during the period. Seven Eight Capital LP grew its holdings in shares of argenx by 66.4% in the 1st quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock worth $1,224,000 after purchasing an additional 1,241 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in argenx by 36.5% during the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock valued at $234,766,000 after purchasing an additional 159,480 shares during the last quarter. FORA Capital LLC acquired a new position in argenx in the first quarter valued at about $2,024,000. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of argenx during the first quarter worth approximately $4,570,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.