argenx (NASDAQ:ARGX) Cut to “Hold” at Baird R W

Baird R W lowered shares of argenx (NASDAQ:ARGX) from a strong-buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

A number of other research firms have also recently commented on ARGX. JPMorgan Chase & Co. boosted their target price on shares of argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Robert W. Baird lowered argenx from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $515.00 to $650.00 in a research note on Friday. Wedbush raised their price objective on shares of argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Piper Sandler lifted their target price on argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Evercore ISI lifted their price target on shares of argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, argenx presently has an average rating of “Moderate Buy” and a consensus target price of $596.78.

argenx Price Performance

ARGX traded up $9.28 during trading on Friday, reaching $595.58. 468,633 shares of the company’s stock were exchanged, compared to its average volume of 309,272. The stock has a market capitalization of $35.61 billion, a P/E ratio of -676.80 and a beta of 0.63. argenx has a 1 year low of $327.73 and a 1 year high of $610.73. The company’s fifty day simple moving average is $539.46 and its 200-day simple moving average is $465.81.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $1.29. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The firm had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the previous year, the business posted ($1.25) EPS. Equities analysts forecast that argenx will post -0.36 EPS for the current year.

Institutional Investors Weigh In On argenx

Several institutional investors have recently modified their holdings of the company. TD Asset Management Inc grew its holdings in shares of argenx by 15.4% during the 1st quarter. TD Asset Management Inc now owns 223,695 shares of the company’s stock worth $88,073,000 after purchasing an additional 29,810 shares during the period. Seven Eight Capital LP lifted its position in shares of argenx by 66.4% during the first quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock worth $1,224,000 after purchasing an additional 1,241 shares during the last quarter. Clearbridge Investments LLC increased its holdings in argenx by 36.5% in the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock valued at $234,766,000 after buying an additional 159,480 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of argenx during the 1st quarter valued at approximately $2,024,000. Finally, Mediolanum International Funds Ltd acquired a new position in argenx in the first quarter worth $4,570,000. Hedge funds and other institutional investors 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.