argenx (NASDAQ:ARGX) Raised to Outperform at Wolfe Research

Wolfe Research upgraded shares of argenx (NASDAQ:ARGX) from a peer perform rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. They currently have $697.00 price target on the stock.

ARGX has been the subject of several other reports. Barclays raised argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Raymond James reaffirmed a “strong-buy” rating and issued a $605.00 target price on shares of argenx in a research report on Thursday, October 10th. Oppenheimer increased their price target on shares of argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Guggenheim lifted their price objective on shares of argenx from $585.00 to $665.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Baird R W downgraded shares of argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $619.79.

argenx Trading Down 5.2 %

Shares of NASDAQ:ARGX opened at $564.23 on Tuesday. The company has a market capitalization of $33.74 billion, a price-to-earnings ratio of -641.16 and a beta of 0.61. argenx has a 12-month low of $327.73 and a 12-month high of $611.22. The business has a 50-day moving average price of $552.89 and a 200 day moving average price of $481.22.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. The business had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same period in the previous year, the firm earned ($1.25) EPS. As a group, equities research analysts predict that argenx will post 2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

Several large investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. boosted its position in shares of argenx by 21.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 1,300 shares of the company’s stock valued at $512,000 after purchasing an additional 230 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of argenx by 5.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 2,916 shares of the company’s stock worth $1,148,000 after acquiring an additional 152 shares during the last quarter. US Bancorp DE increased its holdings in shares of argenx by 15.6% in the 1st quarter. US Bancorp DE now owns 3,782 shares of the company’s stock valued at $1,489,000 after acquiring an additional 511 shares during the period. ProShare Advisors LLC raised its position in argenx by 6.3% in the 1st quarter. ProShare Advisors LLC now owns 2,181 shares of the company’s stock valued at $859,000 after purchasing an additional 129 shares during the last quarter. Finally, TD Asset Management Inc raised its position in argenx by 15.4% in the 1st 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 last quarter. Institutional investors and hedge funds 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.