argenx (NASDAQ:ARGX) Stock Rating Reaffirmed by HC Wainwright

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report released on Friday, Benzinga reports. They currently have a $448.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 15.76% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Wolfe Research assumed coverage on argenx in a research report on Thursday, February 15th. They issued a “peer perform” rating for the company. Scotiabank raised their price target on argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 26th. Robert W. Baird dropped their price target on argenx from $505.00 to $490.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Morgan Stanley decreased their price objective on argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 28th. Finally, JPMorgan Chase & Co. decreased their price target on argenx from $560.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, argenx currently has an average rating of “Moderate Buy” and an average price target of $520.68.

argenx Price Performance

Shares of NASDAQ ARGX opened at $387.00 on Friday. The stock has a fifty day moving average price of $375.24 and a 200 day moving average price of $389.45. argenx has a 1-year low of $327.73 and a 1-year high of $550.76. The company has a market cap of $23.00 billion, a PE ratio of -68.37 and a beta of 0.65.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.33). argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. The company had revenue of $412.51 million for the quarter, compared to analyst estimates of $404.03 million. During the same period in the prior year, the business earned ($0.52) earnings per share. Analysts anticipate that argenx will post -2.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Price T Rowe Associates Inc. MD boosted its position in 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 acquiring an additional 1,830,651 shares during the period. Capital World Investors boosted its position in argenx by 37.0% during the 4th quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock worth $746,099,000 after acquiring an additional 530,181 shares during the period. Janus Henderson Group PLC boosted its position in argenx by 24.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock worth $872,690,000 after acquiring an additional 439,889 shares during the period. Artisan Partners Limited Partnership boosted its position in argenx by 12.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock worth $1,207,666,000 after acquiring an additional 346,178 shares during the period. Finally, Invesco Ltd. boosted its position in argenx by 377.0% during the 3rd quarter. Invesco Ltd. now owns 430,787 shares of the company’s stock worth $211,788,000 after acquiring an additional 340,482 shares during the period. 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.