William Blair Upgrades argenx (NASDAQ:ARGX) to Outperform

William Blair upgraded shares of argenx (NASDAQ:ARGX) from a market perform rating to an outperform rating in a report published on Friday, MarketBeat reports. William Blair also issued estimates for argenx’s Q4 2024 earnings at $0.35 EPS.

A number of other research analysts have also issued reports on the company. Citigroup boosted their price objective on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Barclays raised shares of argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Robert W. Baird increased their price objective on shares of argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Truist Financial boosted their target price on shares of argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday. Finally, 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 note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $596.78.

argenx Price Performance

NASDAQ:ARGX traded up $9.28 during mid-day trading on Friday, reaching $595.58. The stock had a trading volume of 468,633 shares, compared to its average volume of 309,272. The stock’s 50 day simple moving average is $537.88 and its two-hundred day simple moving average is $464.29. argenx has a 1-year low of $327.73 and a 1-year high of $610.73. The company has a market capitalization of $35.61 billion, a price-to-earnings ratio of -676.80 and a beta of 0.63.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share 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 analyst estimates of $543.29 million. During the same quarter in the previous year, the firm earned ($1.25) earnings per share. Sell-side analysts anticipate that argenx will post -0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

A number of institutional investors and hedge funds have recently bought and sold shares of ARGX. Blue Trust Inc. raised its holdings in shares of argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares in the last quarter. J.Safra Asset Management Corp grew its position in argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after buying an additional 59 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after buying an additional 40 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of argenx in the second quarter valued at $76,000. Finally, Cromwell Holdings LLC lifted its position in shares of argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after acquiring an additional 66 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

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.