argenx (NASDAQ:ARGX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of argenx (NASDAQ:ARGX) in a research report report published on Monday, Benzinga reports. The firm currently has a $448.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird reduced their price target on shares of argenx from $505.00 to $490.00 and set an outperform rating on the stock in a research note on Friday, March 1st. Wedbush restated an outperform rating and issued a $521.00 price target on shares of argenx in a research note on Thursday, April 18th. Morgan Stanley reduced their price target on shares of argenx from $515.00 to $510.00 and set an overweight rating on the stock in a research note on Tuesday, May 28th. JMP Securities reduced their price target on shares of argenx from $471.00 to $468.00 and set a market outperform rating on the stock in a research note on Friday, May 10th. Finally, William Blair reiterated a market perform rating on shares of argenx in a research report on Monday, June 17th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, argenx has an average rating of Moderate Buy and a consensus price target of $525.42.

argenx Price Performance

Shares of ARGX opened at $445.88 on Monday. The firm has a market capitalization of $26.50 billion, a PE ratio of -78.78 and a beta of 0.65. The company’s 50-day moving average is $379.85 and its 200-day moving average is $386.89. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $550.76.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Monday, May 13th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). The business had revenue of $412.51 million for the quarter, compared to the consensus estimate of $404.03 million. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. During the same period in the prior year, the business posted ($0.52) earnings per share. Analysts predict that argenx will post -2.89 earnings per share for the current fiscal year.

Institutional Trading of argenx

Several hedge funds have recently bought and sold shares of ARGX. PNC Financial Services Group Inc. boosted its holdings in argenx by 6.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,341 shares of the company’s stock worth $659,000 after acquiring an additional 84 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of argenx in the 3rd quarter worth about $433,000. Envestnet Asset Management Inc. raised its stake in argenx by 144.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 43,887 shares of the company’s stock valued at $21,576,000 after acquiring an additional 25,940 shares during the period. Acadian Asset Management LLC raised its stake in argenx by 42.9% in the 3rd quarter. Acadian Asset Management LLC now owns 806 shares of the company’s stock valued at $396,000 after acquiring an additional 242 shares during the period. Finally, Mariner LLC raised its stake in argenx by 36.1% in the 3rd quarter. Mariner LLC now owns 2,764 shares of the company’s stock valued at $1,359,000 after acquiring an additional 733 shares during the period. Institutional investors and hedge funds 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.