argenx (NASDAQ:ARGX) Upgraded by Sanford C. Bernstein to “Outperform” Rating

Sanford C. Bernstein upgraded shares of argenx (NASDAQ:ARGX) from a market perform rating to an outperform rating in a research report report published on Monday, MarketBeat Ratings reports.

ARGX has been the subject of several other reports. Robert W. Baird lifted their target price on argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Wedbush reissued an “outperform” rating and set a $655.00 price objective on shares of argenx in a research report on Tuesday, December 3rd. Evercore ISI boosted their price objective on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, HC Wainwright boosted their price objective on argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. 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. Based on data from MarketBeat.com, argenx presently has an average rating of “Moderate Buy” and a consensus target price of $687.00.

argenx Price Performance

NASDAQ ARGX opened at $614.19 on Monday. The company has a market cap of $37.32 billion, a P/E ratio of -697.94 and a beta of 0.59. The stock has a 50-day moving average of $637.58 and a two-hundred day moving average of $597.56. argenx has a 1-year low of $349.86 and a 1-year high of $678.21.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.60. The company had revenue of $761.22 million during the quarter, compared to the consensus estimate of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. On average, analysts anticipate that argenx will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARGX. GeoWealth Management LLC lifted its stake in argenx by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after buying an additional 18 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in argenx in the fourth quarter valued at approximately $37,000. Global Retirement Partners LLC lifted its stake in argenx by 369.2% in the fourth quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock valued at $38,000 after buying an additional 48 shares during the last quarter. FIL Ltd purchased a new stake in argenx in the fourth quarter valued at approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in argenx in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors 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.