argenx (NASDAQ:ARGX) Receives Outperform Rating from Wedbush

argenx (NASDAQ:ARGX)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued on Tuesday,RTT News reports. They presently have a $655.00 price objective on the stock. Wedbush’s price target indicates a potential upside of 5.97% from the stock’s current price.

Several other research analysts also recently commented on the company. Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird downgraded shares of 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 research report on Friday, November 1st. Finally, Truist Financial upped their price target on shares of argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $635.42.

argenx Stock Up 0.1 %

NASDAQ:ARGX traded up $0.61 during mid-day trading on Tuesday, hitting $618.10. 14,342 shares of the stock traded hands, compared to its average volume of 309,120. The stock has a market capitalization of $37.31 billion, a price-to-earnings ratio of -709.09 and a beta of 0.59. argenx has a 52 week low of $327.73 and a 52 week high of $622.32. The firm’s 50 day moving average is $567.51 and its two-hundred day moving average is $499.76.

argenx (NASDAQ:ARGX) last announced 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. The company had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same quarter last year, the business posted ($1.25) EPS. As a group, research analysts predict that argenx will post 2.2 EPS for the current year.

Institutional Investors Weigh In On argenx

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARGX. FMR LLC boosted its stake in shares of argenx by 35.9% in the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after acquiring an additional 1,265,486 shares during the last quarter. Perpetual Ltd acquired a new stake in argenx during the 3rd quarter worth $76,314,000. Logos Global Management LP purchased a new stake in shares of argenx during the second quarter worth $58,055,000. Wellington Management Group LLP grew its holdings in shares of argenx by 13.0% during the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after buying an additional 55,617 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of argenx by 15.2% in the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after buying an additional 50,477 shares during the last quarter. Hedge funds and other 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.