argenx (NASDAQ:ARGX) Rating Increased to Outperform at William Blair

William Blair upgraded shares of argenx (NASDAQ:ARGX) from a market perform rating to an outperform rating in a research note released on Friday, Marketbeat reports. William Blair also issued estimates for argenx’s Q4 2024 earnings at $0.35 EPS.

Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft downgraded argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Guggenheim reaffirmed a “buy” rating and set a $585.00 target price on shares of argenx in a report on Thursday, September 26th. Wells Fargo & Company boosted their target price on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Robert W. Baird increased their price target on argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Wedbush boosted their price objective on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $598.44.

argenx Trading Down 1.2 %

Shares of ARGX opened at $588.67 on Friday. The firm has a market cap of $35.20 billion, a P/E ratio of -668.94 and a beta of 0.61. The stock’s 50 day moving average is $539.46 and its two-hundred day moving average is $467.19. argenx has a 12 month low of $327.73 and a 12 month high of $610.73.

argenx (NASDAQ:ARGX) last released its quarterly earnings results 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 firm had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 0.96%. During the same quarter in the prior year, the firm earned ($1.25) EPS. Equities research analysts forecast that argenx will post -0.36 EPS for the current year.

Institutional Investors Weigh In On argenx

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its stake in argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares during the last quarter. J.Safra Asset Management Corp increased its holdings in shares of argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after acquiring an additional 59 shares during the period. GAMMA Investing LLC increased its holdings in shares of argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after acquiring an additional 40 shares during the period. Point72 Hong Kong Ltd purchased a new stake in argenx in the 2nd quarter valued at $76,000. Finally, Cromwell Holdings LLC boosted its stake in argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after purchasing an additional 66 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.