argenx (NASDAQ:ARGX) Rating Lowered to Neutral at Robert W. Baird

argenx (NASDAQ:ARGX) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Friday, Marketbeat reports. They currently have a $650.00 price target on the stock, up from their prior price target of $515.00. Robert W. Baird’s price target would suggest a potential upside of 9.14% from the stock’s previous close.

A number of other research firms have also recently weighed in on ARGX. Wedbush boosted their price objective on shares of argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Citigroup raised their price target on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their price target on shares of argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Evercore ISI raised their price target on shares of argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $596.78.

argenx Stock Up 1.6 %

ARGX stock opened at $595.58 on Friday. argenx has a twelve month low of $327.73 and a twelve month high of $610.73. The stock has a market capitalization of $35.61 billion, a price-to-earnings ratio of -676.80 and a beta of 0.63. The firm’s fifty day simple moving average is $539.46 and its two-hundred day simple moving average is $465.81.

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

Institutional Trading of argenx

A number of institutional investors have recently modified their holdings of ARGX. Price T Rowe Associates Inc. MD boosted its holdings in shares of argenx by 49.8% in the 1st 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 buying an additional 1,830,651 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of argenx by 24.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after buying an additional 439,889 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of argenx by 36.5% in the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock valued at $234,766,000 after buying an additional 159,480 shares in the last quarter. Perpetual Ltd bought a new stake in shares of argenx in the 3rd quarter valued at about $76,314,000. Finally, Logos Global Management LP bought a new stake in shares of argenx in the 2nd quarter valued at about $58,055,000. 60.32% of the stock is currently owned by 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.