argenx (NASDAQ:ARGX) Downgraded by Robert W. Baird to Neutral

argenx (NASDAQ:ARGX) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $650.00 price objective on the stock, up from their previous price objective of $515.00. Robert W. Baird’s price target suggests a potential upside of 9.14% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Guggenheim restated a “buy” rating and set a $585.00 price objective on shares of argenx in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Oppenheimer upgraded shares of argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price objective for the company in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $596.78.

argenx Stock Up 1.6 %

ARGX stock opened at $595.58 on Friday. The firm has a 50 day moving average of $539.46 and a 200 day moving average of $465.81. The stock has a market capitalization of $35.61 billion, a PE ratio of -676.80 and a beta of 0.63. argenx has a 52 week low of $327.73 and a 52 week high of $610.73.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The company had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period last year, the business earned ($1.25) EPS. On average, equities research analysts expect that argenx will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after acquiring an additional 62 shares in the last quarter. J.Safra Asset Management Corp increased its holdings in argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after acquiring an additional 59 shares in the last quarter. GAMMA Investing LLC increased its holdings in argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after acquiring an additional 40 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in argenx in the 2nd quarter worth $76,000. Finally, Cromwell Holdings LLC increased its holdings in argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after acquiring an additional 66 shares in 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.