argenx (NASDAQ:ARGX) Earns “Buy” Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of argenx (NASDAQ:ARGX) in a report issued on Thursday, Benzinga reports. Guggenheim currently has a $585.00 price target on the stock.

Several other research analysts have also recently weighed in on ARGX. Truist Financial lifted their price target on argenx from $480.00 to $540.00 and gave the company a buy rating in a research report on Monday, July 22nd. HC Wainwright lifted their target price on shares of argenx from $504.00 to $533.00 and gave the company a buy rating in a report on Friday, July 26th. Stifel Nicolaus boosted their target price on shares of argenx from $485.00 to $500.00 and gave the company a buy rating in a research note on Monday, June 24th. Wedbush raised their price target on shares of argenx from $519.00 to $560.00 and gave the company an outperform rating in a research report on Friday, July 26th. Finally, Barclays upgraded shares of argenx from an equal weight rating to an overweight rating in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $547.74.

argenx Price Performance

ARGX stock opened at $536.11 on Thursday. The company has a market capitalization of $31.86 billion, a P/E ratio of -94.72 and a beta of 0.62. argenx has a 12 month low of $327.73 and a 12 month high of $554.74. The firm’s fifty day simple moving average is $519.04 and its 200-day simple moving average is $437.78.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of ($0.89) by $1.34. The company had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same period in the prior year, the company earned ($1.69) earnings per share. As a group, sell-side analysts forecast that argenx will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Wellington Management Group LLP grew its holdings in shares of argenx by 26.2% during the fourth quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock worth $106,204,000 after buying an additional 57,956 shares in the last quarter. Sectoral Asset Management Inc. boosted its position in argenx by 717.2% during the fourth quarter. Sectoral Asset Management Inc. now owns 10,027 shares of the company’s stock worth $3,815,000 after acquiring an additional 8,800 shares during the last quarter. Boxer Capital LLC grew its stake in argenx by 88.2% during the 4th quarter. Boxer Capital LLC now owns 160,000 shares of the company’s stock valued at $60,869,000 after acquiring an additional 75,000 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in argenx by 9.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 47,583 shares of the company’s stock valued at $18,102,000 after acquiring an additional 3,967 shares during the last quarter. Finally, Altitude Crest Partners Inc. acquired a new stake in argenx in the 4th quarter valued at about $11,223,000. 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.