Oppenheimer Reiterates Outperform Rating for argenx (NASDAQ:ARGX)

argenx (NASDAQ:ARGX)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer in a research note issued on Thursday,Benzinga reports. They presently have a $675.00 target price on the stock, up from their previous target price of $646.00. Oppenheimer’s price target indicates a potential upside of 11.40% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. JMP Securities upped their price objective on shares of argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Citigroup boosted their target price on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Evercore ISI boosted their target price on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday. William Blair raised argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st. Finally, Wedbush boosted their target price on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, nineteen have given 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 a consensus rating of “Moderate Buy” and a consensus price target of $630.42.

argenx Stock Up 1.5 %

ARGX opened at $605.92 on Thursday. argenx has a twelve month low of $327.73 and a twelve month high of $611.22. The company has a 50-day simple moving average of $556.37 and a 200 day simple moving average of $486.73. The stock has a market capitalization of $36.23 billion, a price-to-earnings ratio of -693.08 and a beta of 0.61.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share 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 business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the prior year, the business posted ($1.25) earnings per share. Sell-side analysts anticipate that argenx will post 2.2 EPS for the current fiscal year.

Institutional Trading of argenx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARGX. O Shaughnessy Asset Management LLC increased its position in argenx by 32.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,460 shares of the company’s stock valued at $575,000 after purchasing an additional 361 shares during the period. Advisors Asset Management Inc. increased its position in argenx by 79.3% during the 1st quarter. Advisors Asset Management Inc. now owns 588 shares of the company’s stock valued at $232,000 after purchasing an additional 260 shares during the period. Toronto Dominion Bank increased its position in argenx by 16.5% during the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock valued at $119,000 after purchasing an additional 43 shares during the period. Avoro Capital Advisors LLC boosted its holdings in shares of argenx by 0.3% during the 1st quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock worth $487,609,000 after buying an additional 3,900 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of argenx by 49.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock worth $2,167,235,000 after buying an additional 1,830,651 shares in the last quarter. 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.