argenx (NASDAQ:ARGX) Receives “Buy” Rating from HC Wainwright

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $720.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 27.63% from the stock’s previous close.

Several other research analysts have also commented on ARGX. Citigroup reissued an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Truist Financial restated a “buy” rating and issued a $700.00 price target (up previously from $660.00) on shares of argenx in a report on Tuesday, January 14th. Guggenheim lifted their price objective on shares of argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Oppenheimer upped their target price on shares of argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft raised shares of argenx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, argenx presently has an average rating of “Moderate Buy” and a consensus target price of $687.00.

argenx Price Performance

argenx stock opened at $564.13 on Tuesday. The company has a market cap of $34.28 billion, a price-to-earnings ratio of -641.06 and a beta of 0.60. argenx has a 12 month low of $352.77 and a 12 month high of $678.21. The stock’s 50-day moving average is $611.51 and its 200-day moving average is $603.50.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $761.22 million during the quarter, compared to the consensus estimate of $678.52 million. Research analysts anticipate that argenx will post 3.13 EPS for the current year.

Institutional Investors Weigh In On argenx

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of argenx by 17.2% during the fourth quarter. FMR LLC now owns 5,618,222 shares of the company’s stock valued at $3,455,207,000 after purchasing an additional 824,750 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in argenx during the 3rd quarter worth $88,339,000. Point72 Asset Management L.P. acquired a new stake in argenx in the fourth quarter worth $91,013,000. Allspring Global Investments Holdings LLC lifted its stake in argenx by 38,152.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company’s stock valued at $89,391,000 after buying an additional 143,834 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of argenx by 53,684.9% during the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company’s stock valued at $802,200,000 after acquiring an additional 135,286 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.