argenx (NASDAQ:ARGX) Stock Rating Reaffirmed by Wedbush

Wedbush restated their outperform rating on shares of argenx (NASDAQ:ARGX) in a report issued on Wednesday, Benzinga reports. They currently have a $519.00 target price on the stock. Wedbush also issued estimates for argenx’s Q2 2024 earnings at ($1.67) EPS, Q3 2024 earnings at ($1.58) EPS, Q4 2024 earnings at ($1.34) EPS, FY2024 earnings at ($5.63) EPS, Q1 2025 earnings at ($0.63) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at ($0.83) EPS, FY2026 earnings at $9.92 EPS and FY2027 earnings at $28.75 EPS.

ARGX has been the topic of a number of other reports. Scotiabank upped their target price on argenx from $402.00 to $408.00 and gave the company a sector perform rating in a research report on Tuesday, March 26th. Truist Financial upped their target price on argenx from $440.00 to $480.00 and gave the company a buy rating in a research report on Tuesday, June 25th. William Blair reaffirmed a market perform rating on shares of argenx in a research report on Monday, June 17th. Stifel Nicolaus boosted their price target on argenx from $485.00 to $500.00 and gave the company a buy rating in a report on Monday, June 24th. Finally, Robert W. Baird lowered their price target on argenx from $505.00 to $490.00 and set an outperform rating for the company in a report on Friday, March 1st. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, argenx has an average rating of Moderate Buy and an average target price of $525.42.

argenx Stock Performance

argenx stock opened at $430.04 on Wednesday. The stock’s 50 day moving average price is $382.97 and its 200 day moving average price is $386.68. The firm has a market capitalization of $25.56 billion, a PE ratio of -75.98 and a beta of 0.65. argenx has a one year low of $327.73 and a one year high of $550.76.

argenx (NASDAQ:ARGX) last announced its earnings results on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The business had revenue of $412.51 million during the quarter, compared to analyst estimates of $404.03 million. During the same period in the previous year, the company earned ($0.52) earnings per share. On average, analysts forecast that argenx will post -2.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust acquired a new position in argenx during the 3rd quarter worth $28,000. GAMMA Investing LLC boosted its position in argenx by 420.0% during the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 63 shares during the period. Mather Group LLC. acquired a new position in argenx during the 1st quarter worth $38,000. FNY Investment Advisers LLC acquired a new position in argenx during the 4th quarter worth $38,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in argenx during the 4th quarter worth $60,000. 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.