HC Wainwright Reiterates Buy Rating for argenx (NASDAQ:ARGX)

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $617.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 2.77% from the company’s current price.

ARGX has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. JPMorgan Chase & Co. lifted their target price on shares of argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Wolfe Research raised shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 target price on the stock in a report on Tuesday, November 12th. Truist Financial lifted their target price on shares of argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, argenx currently has an average rating of “Moderate Buy” and an average target price of $630.42.

argenx Stock Performance

Shares of argenx stock opened at $600.35 on Wednesday. argenx has a 1 year low of $327.73 and a 1 year high of $611.22. The company has a market capitalization of $35.90 billion, a P/E ratio of -682.21 and a beta of 0.61. The company’s fifty day moving average is $555.08 and its two-hundred day moving average is $485.94.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data 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 the consensus estimate of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same period last year, the firm posted ($1.25) EPS. As a group, equities analysts expect that argenx will post 2.2 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Institutional investors have recently modified their holdings of the company. 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. Blue Trust Inc. grew its holdings in argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after purchasing an additional 62 shares during the period. GAMMA Investing LLC grew its holdings in argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after purchasing an additional 40 shares during the period. Cromwell Holdings LLC grew its holdings in argenx by 73.3% in the third 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 period. Finally, Point72 Hong Kong Ltd purchased a new stake in argenx in the second quarter valued at approximately $76,000. 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.