HC Wainwright Issues Positive Forecast for argenx (NASDAQ:ARGX) Stock Price

argenx (NASDAQ:ARGX) had its target price hoisted by HC Wainwright from $717.00 to $720.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also issued reports on ARGX. JMP Securities increased their price target on shares of argenx from $606.00 to $696.00 and gave the stock a “market outperform” rating in a research report on Tuesday, January 14th. Evercore ISI increased their price target on shares of argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Piper Sandler increased their price target on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $439.00 to $715.00 in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “hold” rating to a “sell” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $661.17.

argenx Stock Down 0.0 %

argenx stock opened at $624.67 on Friday. The stock has a market cap of $37.96 billion, a P/E ratio of -709.85 and a beta of 0.58. argenx has a twelve month low of $349.86 and a twelve month high of $678.21. The company’s 50-day moving average price is $642.61 and its two-hundred day moving average price is $589.72.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.60. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The firm had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. Equities analysts anticipate that argenx will post 3.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARGX. FMR LLC raised its position in argenx by 17.2% in the fourth quarter. FMR LLC now owns 5,618,222 shares of the company’s stock worth $3,455,207,000 after acquiring an additional 824,750 shares during the period. Janus Henderson Group PLC raised its position in shares of argenx by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock valued at $1,343,797,000 after purchasing an additional 10,975 shares during the period. Capital World Investors raised its position in shares of argenx by 5.1% in the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company’s stock valued at $1,099,002,000 after purchasing an additional 86,687 shares during the period. RTW Investments LP raised its position in shares of argenx by 2.9% in the fourth quarter. RTW Investments LP now owns 673,497 shares of the company’s stock valued at $414,201,000 after purchasing an additional 19,067 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of argenx by 6.8% in the fourth quarter. Clearbridge Investments LLC now owns 629,828 shares of the company’s stock valued at $387,344,000 after purchasing an additional 40,330 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.