argenx SE (NASDAQ:ARGX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of argenx SE (NASDAQ:ARGX) have been given a consensus rating of “Moderate Buy” by the twenty-two ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $658.39.

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Wolfe Research upgraded argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective on the stock in a research note on Tuesday, November 12th. Citigroup upped their target price on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Oppenheimer restated 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. Finally, Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th.

argenx Price Performance

Shares of NASDAQ ARGX opened at $659.81 on Friday. The firm has a market cap of $39.83 billion, a price-to-earnings ratio of -749.78 and a beta of 0.59. The stock’s fifty day moving average price is $619.30 and its two-hundred day moving average price is $554.23. argenx has a one year low of $349.86 and a one year high of $678.21.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating 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 business had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. During the same period in the prior year, the company posted ($1.25) earnings per share. On average, equities analysts anticipate that argenx will post 2.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. increased its stake in shares of argenx by 11.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 3,255 shares of the company’s stock valued at $1,400,000 after buying an additional 339 shares during the period. Envestnet Asset Management Inc. boosted its holdings in argenx by 13.8% in the second quarter. Envestnet Asset Management Inc. now owns 62,999 shares of the company’s stock valued at $27,092,000 after acquiring an additional 7,645 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in argenx by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 19,388 shares of the company’s stock valued at $8,339,000 after acquiring an additional 1,438 shares during the last quarter. Wealth Alliance increased its position in argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after purchasing an additional 29 shares during the period. Finally, XTX Topco Ltd bought a new position in argenx during the 2nd quarter worth approximately $1,435,000. 60.32% of the stock is owned by institutional investors.

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.