argenx (NASDAQ:ARGX) Upgraded at Scotiabank

Scotiabank upgraded shares of argenx (NASDAQ:ARGX) from a sector perform rating to a sector outperform rating in a research report released on Tuesday morning, Marketbeat reports. The brokerage currently has $715.00 target price on the stock, up from their prior target price of $439.00.

A number of other brokerages also recently weighed in on ARGX. Baird R W downgraded argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Oppenheimer raised their price objective on argenx from $560.00 to $646.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JMP Securities raised their price objective on argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. HC Wainwright lifted their price target on argenx from $533.00 to $617.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Guggenheim lifted their price target on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, argenx presently has a consensus rating of “Moderate Buy” and a consensus target price of $615.50.

argenx Price Performance

Shares of ARGX stock opened at $591.44 on Tuesday. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $611.22. The stock’s 50-day moving average is $545.48 and its two-hundred day moving average is $472.18. The firm has a market cap of $35.37 billion, a P/E ratio of -672.09 and a beta of 0.61.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share 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 business had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. During the same period last year, the business earned ($1.25) EPS. As a group, research analysts expect that argenx will post 2.2 EPS for the current year.

Institutional Trading of argenx

Several institutional investors have recently bought and sold shares of ARGX. Central Pacific Bank Trust Division acquired a new stake in argenx in the 1st quarter valued at $313,000. Mediolanum International Funds Ltd acquired a new stake in argenx in the 1st quarter valued at $4,570,000. Envestnet Portfolio Solutions Inc. boosted its stake in 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 buying an additional 230 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in argenx by 5.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,916 shares of the company’s stock valued at $1,148,000 after buying an additional 152 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in argenx in the 1st quarter valued at $397,000. 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.