argenx (NASDAQ:ARGX) Earns “Outperform” Rating from Wedbush

argenx (NASDAQ:ARGX)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research note issued on Tuesday,RTT News reports. They currently have a $655.00 target price on the stock. Wedbush’s price target suggests a potential upside of 4.81% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. raised their price objective on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Piper Sandler raised their price objective on shares of argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Baird R W lowered shares of argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Scotiabank raised shares of argenx from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $635.42.

argenx Trading Up 3.0 %

Shares of ARGX stock opened at $624.96 on Tuesday. argenx has a 52 week low of $327.73 and a 52 week high of $626.00. The company has a market cap of $37.73 billion, a PE ratio of -710.18 and a beta of 0.59. The company’s fifty day simple moving average is $570.76 and its 200-day simple moving average is $502.32.

argenx (NASDAQ:ARGX) last released its quarterly 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. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The firm had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. During the same quarter in the previous year, the firm posted ($1.25) EPS. Equities research analysts expect that argenx will post 2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. J.Safra Asset Management Corp raised its position in shares of argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after buying an additional 59 shares in the last quarter. Blue Trust Inc. raised its position in shares of argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after buying an additional 62 shares in the last quarter. GAMMA Investing LLC raised its position in shares of argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after buying an additional 40 shares in the last quarter. Cromwell Holdings LLC raised its position in shares of argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after buying an additional 66 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of argenx in the 2nd quarter worth approximately $76,000. 60.32% of the stock is owned by institutional investors and hedge funds.

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.