argenx’s (ARGX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of argenx (NASDAQ:ARGX) in a report issued on Wednesday,Benzinga reports. The firm currently has a $617.00 price target on the stock.

Several other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their target price on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. JMP Securities increased their price target on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Oppenheimer increased their target price on shares of argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, William Blair upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, argenx presently has an average rating of “Moderate Buy” and an average target price of $619.79.

argenx Price Performance

Shares of NASDAQ:ARGX opened at $591.82 on Wednesday. The firm has a market capitalization of $35.39 billion, a PE ratio of -672.52 and a beta of 0.61. The business has a 50 day simple moving average of $555.08 and a two-hundred day simple moving average of $485.94. argenx has a 1 year low of $327.73 and a 1 year high of $611.22.

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, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the previous year, the business earned ($1.25) EPS. Equities research analysts expect that argenx will post 2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Fiera Capital Corp lifted its stake in argenx by 2.2% during the 2nd quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock valued at $71,212,000 after acquiring an additional 3,506 shares during the period. Cetera Advisors LLC acquired a new position in argenx during the first quarter valued at $419,000. Simplify Asset Management Inc. boosted its holdings in argenx by 64.0% in the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock valued at $1,311,000 after purchasing an additional 944 shares during the last quarter. Perpetual Ltd acquired a new stake in argenx during the 3rd quarter worth about $76,314,000. Finally, Varma Mutual Pension Insurance Co raised its stake in shares of argenx by 20.0% during the 2nd quarter. Varma Mutual Pension Insurance Co now owns 6,000 shares of the company’s stock valued at $2,580,000 after buying an additional 1,000 shares during the last quarter. 60.32% of the stock is currently 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.