argenx (NASDAQ:ARGX) Raised to Sector Outperform at Scotiabank

argenx (NASDAQ:ARGX) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has a $715.00 price target on the stock, up from their prior price target of $439.00. Scotiabank’s price objective suggests a potential upside of 21.40% from the stock’s current price.

Several other equities analysts have also issued reports on ARGX. Oppenheimer boosted their target price on argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. JMP Securities boosted their target price on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Finally, Raymond James restated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and an average target price of $615.50.

argenx Stock Down 2.2 %

Shares of ARGX stock opened at $588.97 on Tuesday. The stock has a 50-day moving average price of $544.00 and a 200 day moving average price of $471.34. The firm has a market cap of $35.22 billion, a price-to-earnings ratio of -669.28 and a beta of 0.61. argenx has a 12 month low of $327.73 and a 12 month high of $611.22.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to analyst estimates 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. Sell-side analysts predict that argenx will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenx

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after acquiring an additional 62 shares in the last quarter. J.Safra Asset Management Corp lifted its stake in 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of argenx by 51.3% during 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. Point72 Hong Kong Ltd bought a new stake in shares of argenx during the 2nd quarter worth approximately $76,000. Finally, Cromwell Holdings LLC raised its stake in shares of 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 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.