argenx’s (ARGX) Buy Rating Reiterated at Bank of America

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reaffirmed by analysts at Bank of America in a research report issued on Monday, Benzinga reports. They presently have a $607.00 target price on the stock, up from their prior target price of $535.00. Bank of America‘s target price points to a potential upside of 40.86% from the company’s current price.

Several other brokerages have also issued reports on ARGX. Stifel Nicolaus boosted their price objective on argenx from $485.00 to $500.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial boosted their price objective on argenx from $370.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. William Blair reiterated a “market perform” rating on shares of argenx in a research report on Monday, June 17th. Piper Sandler upped their price target on argenx from $522.00 to $535.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $448.00 price target on shares of argenx in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, argenx presently has an average rating of “Moderate Buy” and an average target price of $523.42.

argenx Trading Up 9.2 %

Shares of ARGX stock traded up $36.44 on Monday, reaching $430.91. The company had a trading volume of 268,953 shares, compared to its average volume of 304,653. The stock has a market cap of $25.61 billion, a PE ratio of -76.29 and a beta of 0.65. The company has a 50-day moving average of $375.35 and a 200-day moving average of $386.61. argenx has a 12 month low of $327.73 and a 12 month high of $550.76.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) 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 business had revenue of $412.51 million during the quarter, compared to analyst estimates of $404.03 million. During the same quarter in the prior year, the firm posted ($0.52) earnings per share. Sell-side analysts anticipate that argenx will post -2.75 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Large investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust bought a new stake in argenx in the 3rd quarter valued at $28,000. GAMMA Investing LLC raised its stake in argenx by 420.0% in the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after acquiring an additional 63 shares during the period. FNY Investment Advisers LLC bought a new stake in argenx in the 4th quarter valued at $38,000. Mather Group LLC. bought a new position in argenx during the 1st quarter worth $38,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in argenx during the 4th quarter worth $60,000. 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.