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

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $448.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 13.57% from the stock’s current price.

Several other research analysts also recently commented on the company. Truist Financial lifted their target price on argenx from $370.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Morgan Stanley cut their target price on argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a report on Tuesday, May 28th. JPMorgan Chase & Co. cut their target price on argenx from $560.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Scotiabank lifted their target price on argenx from $402.00 to $408.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $522.00 target price on shares of argenx in a report on Monday, June 17th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $524.05.

argenx Stock Up 1.7 %

NASDAQ ARGX opened at $394.47 on Monday. argenx has a twelve month low of $327.73 and a twelve month high of $550.76. The company has a market cap of $23.44 billion, a price-to-earnings ratio of -69.69 and a beta of 0.65. The business’s fifty day moving average is $375.35 and its 200 day moving average is $386.61.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.33). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The firm had revenue of $412.51 million for the quarter, compared to analyst estimates of $404.03 million. During the same period last year, the business earned ($0.52) EPS. On average, research analysts anticipate that argenx will post -2.75 earnings per share for the current fiscal year.

Institutional Trading of argenx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. PNC Financial Services Group Inc. increased its holdings in argenx by 6.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,341 shares of the company’s stock worth $659,000 after purchasing an additional 84 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of argenx in the 3rd quarter worth approximately $433,000. Envestnet Asset Management Inc. boosted its stake in shares of argenx by 144.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 43,887 shares of the company’s stock worth $21,576,000 after buying an additional 25,940 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of argenx by 42.9% in the 3rd quarter. Acadian Asset Management LLC now owns 806 shares of the company’s stock worth $396,000 after buying an additional 242 shares during the last quarter. Finally, Mariner LLC boosted its stake in shares of argenx by 36.1% in the 3rd quarter. Mariner LLC now owns 2,764 shares of the company’s stock worth $1,359,000 after buying an additional 733 shares during the last quarter. 60.32% of the stock is owned by 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.