Wedbush Reiterates “Outperform” Rating for argenx (NASDAQ:ARGX)

argenx (NASDAQ:ARGX)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report issued on Tuesday,RTT News reports. They presently have a $655.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 4.81% from the company’s current price.

A number of other equities analysts also recently weighed in on ARGX. Baird R W downgraded argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Guggenheim upped their target price on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a report on Friday, November 1st. Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Citigroup boosted their price target on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Truist Financial boosted their price target on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research note 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, argenx presently has an average rating of “Moderate Buy” and an average price target of $635.42.

argenx Trading Up 3.0 %

NASDAQ ARGX opened at $624.96 on Tuesday. The stock’s 50-day moving average price is $570.76 and its two-hundred day moving average price is $502.32. The company has a market cap of $37.73 billion, a PE ratio of -710.18 and a beta of 0.59. argenx has a 1 year low of $327.73 and a 1 year high of $626.00.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter in the previous year, the company earned ($1.25) EPS. Research analysts forecast that argenx will post 2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

Several hedge funds have recently modified their holdings of ARGX. Cetera Advisors LLC bought a new stake in shares of argenx in the first quarter valued at approximately $419,000. DekaBank Deutsche Girozentrale raised its stake in shares of argenx by 1.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 8,445 shares of the company’s stock valued at $3,320,000 after purchasing an additional 128 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after purchasing an additional 40 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of argenx by 7.2% in the second quarter. Park Avenue Securities LLC now owns 1,324 shares of the company’s stock valued at $569,000 after purchasing an additional 89 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of argenx by 10.4% in the second quarter. SG Americas Securities LLC now owns 2,999 shares of the company’s stock valued at $1,290,000 after purchasing an additional 283 shares in the last quarter. 60.32% of the stock is owned by institutional investors.

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.