argenx (NASDAQ:ARGX) Upgraded at Wolfe Research

Wolfe Research upgraded shares of argenx (NASDAQ:ARGX) from a peer perform rating to an outperform rating in a research report released on Tuesday morning, MarketBeat.com reports. Wolfe Research currently has $697.00 target price on the stock.

ARGX has been the topic of several other research reports. William Blair upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird downgraded argenx from an “outperform” rating to a “neutral” rating and raised their target price for the company from $515.00 to $650.00 in a report on Friday, November 1st. Baird R W cut argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Company upped their price objective on argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $439.00 to $715.00 in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $619.79.

argenx Stock Performance

NASDAQ:ARGX opened at $595.04 on Tuesday. The company has a market cap of $35.58 billion, a price-to-earnings ratio of -676.18 and a beta of 0.61. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $611.22. The stock has a fifty day moving average price of $552.45 and a 200-day moving average price of $479.91.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data 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. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the prior year, the business posted ($1.25) earnings per share. Research analysts predict that argenx will post 2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Profund Advisors LLC increased its stake in shares of argenx by 3.0% in the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock valued at $418,000 after buying an additional 28 shares during the period. Raymond James Trust N.A. increased its position in argenx by 6.0% during the 3rd quarter. Raymond James Trust N.A. now owns 495 shares of the company’s stock valued at $268,000 after purchasing an additional 28 shares during the period. Wealth Alliance increased its position in argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after purchasing an additional 29 shares during the period. GAMMA Investing LLC raised its holdings in 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 during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of argenx by 16.5% in the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock worth $119,000 after purchasing an additional 43 shares during the period. 60.32% of the stock is 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.