argenx (NASDAQ:ARGX) Earns Buy Rating from Truist Financial

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reiterated by analysts at Truist Financial in a report issued on Tuesday,Benzinga reports. They currently have a $700.00 price target on the stock, up from their prior price target of $660.00. Truist Financial’s price target would indicate a potential upside of 5.23% from the company’s current price.

Several other equities analysts have also issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $675.00 price target (up previously from $646.00) on shares of argenx in a research report on Thursday, November 21st. Baird R W lowered shares of argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. William Blair upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Robert W. Baird downgraded shares of argenx from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $515.00 to $650.00 in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $658.39.

argenx Trading Down 0.1 %

argenx stock opened at $665.19 on Tuesday. argenx has a 1-year low of $349.86 and a 1-year high of $678.21. The firm has a market cap of $40.16 billion, a P/E ratio of -755.90 and a beta of 0.59. The firm has a 50-day moving average of $616.41 and a 200-day moving average of $552.71.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $543.29 million. During the same period in the previous year, the firm posted ($1.25) EPS. Research analysts forecast that argenx will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of argenx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its stake in shares of argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of argenx by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock worth $1,343,797,000 after acquiring an additional 10,975 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of argenx by 3.6% in the 2nd quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock worth $265,535,000 after purchasing an additional 21,189 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of argenx by 13.0% during the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock valued at $261,470,000 after acquiring an additional 55,617 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after buying an additional 50,477 shares during the period. Hedge funds and other institutional investors 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.