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

argenx (NASDAQ:ARGX) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $697.00 price objective on the stock. Wolfe Research’s price target suggests a potential upside of 16.29% from the stock’s current price.

A number of other equities research analysts also recently commented on ARGX. Guggenheim raised their target price on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a report on Friday, November 1st. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Robert W. Baird lowered shares of argenx from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $515.00 to $650.00 in a research report on Friday, November 1st. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a report on Friday, November 1st. Finally, Piper Sandler boosted their price target on argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Three 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 stock. According to data from MarketBeat, argenx presently has an average rating of “Moderate Buy” and an average target price of $619.79.

argenx Stock Up 0.9 %

Shares of argenx stock opened at $599.35 on Tuesday. The firm has a market cap of $35.84 billion, a price-to-earnings ratio of -681.08 and a beta of 0.61. argenx has a 52-week low of $327.73 and a 52-week high of $611.22. The company’s 50-day simple moving average is $551.52 and its 200-day simple moving average is $479.10.

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

Institutional Investors Weigh In On argenx

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after buying an additional 62 shares during the period. J.Safra Asset Management Corp grew its holdings in argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares during the period. GAMMA Investing LLC increased its position in argenx by 51.3% during the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after purchasing an additional 40 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in argenx during the second quarter worth approximately $76,000. Finally, Cromwell Holdings LLC boosted its holdings in shares of argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after purchasing an additional 66 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.