argenx (NASDAQ:ARGX) Upgraded by Wolfe Research to “Outperform” Rating

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

A number of other analysts also recently weighed in on ARGX. 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. JPMorgan Chase & Co. boosted their target price on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Baird R W downgraded shares of argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Citigroup boosted their price objective on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, argenx has a consensus rating of “Moderate Buy” and an average price target of $619.79.

argenx Price Performance

NASDAQ:ARGX opened at $564.23 on Tuesday. The firm has a market cap of $33.74 billion, a price-to-earnings ratio of -641.16 and a beta of 0.61. argenx has a 1-year low of $327.73 and a 1-year high of $611.22. The firm’s fifty day moving average price is $552.89 and its 200 day moving average price is $481.22.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $543.29 million. During the same period in the previous year, the business posted ($1.25) earnings per share. As a group, analysts expect that argenx will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of argenx

Several hedge funds and other institutional investors have recently bought and sold shares of the company. TD Asset Management Inc grew its position in shares of argenx by 15.4% in the first quarter. TD Asset Management Inc now owns 223,695 shares of the company’s stock valued at $88,073,000 after purchasing an additional 29,810 shares during the period. Seven Eight Capital LP increased its stake in shares of argenx by 66.4% during the 1st quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock valued at $1,224,000 after acquiring an additional 1,241 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of argenx by 36.5% during the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock worth $234,766,000 after acquiring an additional 159,480 shares during the period. Fiera Capital Corp lifted its holdings in shares of argenx by 2.2% during the 2nd quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock worth $71,212,000 after acquiring an additional 3,506 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in argenx in the first quarter valued at approximately $419,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

About argenx

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.