argenx (NASDAQ:ARGX) Lowered to “Neutral” Rating by Robert W. Baird

Robert W. Baird lowered shares of argenx (NASDAQ:ARGX) from an outperform rating to a neutral rating in a research note published on Friday, Marketbeat Ratings reports. The brokerage currently has $650.00 price target on the stock, up from their prior price target of $515.00.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company increased their price objective 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. Raymond James restated a “strong-buy” rating and issued a $605.00 price target on shares of argenx in a research note on Thursday, October 10th. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Guggenheim reissued a “buy” rating and issued a $585.00 target price on shares of argenx in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of argenx from $500.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, argenx currently has an average rating of “Moderate Buy” and a consensus target price of $596.78.

argenx Stock Performance

NASDAQ ARGX traded up $9.28 during trading on Friday, hitting $595.58. The stock had a trading volume of 468,633 shares, compared to its average volume of 309,272. argenx has a 12 month low of $327.73 and a 12 month high of $610.73. The company’s 50-day moving average price is $537.88 and its two-hundred day moving average price is $464.29. The company has a market capitalization of $35.61 billion, a PE ratio of -676.80 and a beta of 0.63.

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 business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same quarter in the previous year, the firm posted ($1.25) earnings per share. As a group, equities analysts anticipate that argenx will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Profund Advisors LLC grew its position in argenx by 3.0% during the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock worth $418,000 after buying an additional 28 shares in the last quarter. Wealth Alliance lifted its position in shares of argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after acquiring an additional 29 shares during the period. GAMMA Investing LLC grew its holdings 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. Toronto Dominion Bank increased its position in shares of argenx by 16.5% in the first 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. Finally, Sequoia Financial Advisors LLC raised its stake in argenx by 3.1% in the second quarter. Sequoia Financial Advisors LLC now owns 1,713 shares of the company’s stock valued at $737,000 after purchasing an additional 52 shares in the last quarter. 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.