argenx’s (ARGX) Outperform Rating Reiterated at Wedbush

argenx (NASDAQ:ARGX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Thursday, Benzinga reports. They currently have a $521.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 43.50% from the company’s current price.

ARGX has been the subject of a number of other reports. William Blair lowered shares of argenx from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 20th. Wolfe Research started coverage on shares of argenx in a research report on Thursday, February 15th. They issued a “peer perform” rating for the company. Wells Fargo & Company upped their price target on shares of argenx from $472.00 to $478.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Raymond James dropped their price target on shares of argenx from $580.00 to $520.00 and set a “strong-buy” rating for the company in a research report on Thursday, December 21st. Finally, Evercore ISI dropped their price target on shares of argenx from $594.00 to $436.00 and set an “outperform” rating for the company in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $528.16.

argenx Trading Down 0.9 %

NASDAQ ARGX traded down $3.14 during trading hours on Thursday, hitting $363.06. 26,986 shares of the company’s stock traded hands, compared to its average volume of 316,339. The business’s fifty day moving average price is $388.98 and its two-hundred day moving average price is $422.26. The firm has a market capitalization of $21.53 billion, a P/E ratio of -70.37 and a beta of 0.65. argenx has a 52 week low of $327.73 and a 52 week high of $550.76.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, February 29th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.45). The business had revenue of $417.84 million for the quarter, compared to the consensus estimate of $378.60 million. argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. During the same quarter last year, the firm posted ($0.70) earnings per share. On average, sell-side analysts expect that argenx will post -2.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARGX. JPMorgan Chase & Co. grew its holdings in shares of argenx by 143.0% in the first quarter. JPMorgan Chase & Co. now owns 1,577 shares of the company’s stock worth $497,000 after purchasing an additional 928 shares during the last quarter. Raymond James & Associates grew its holdings in argenx by 19.4% during the 1st quarter. Raymond James & Associates now owns 4,534 shares of the company’s stock worth $1,430,000 after acquiring an additional 738 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in argenx by 46.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,544 shares of the company’s stock worth $1,117,000 after acquiring an additional 1,116 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in argenx by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,447 shares of the company’s stock worth $2,033,000 after acquiring an additional 271 shares in the last quarter. Finally, US Bancorp DE grew its holdings in argenx by 43.0% during the 1st quarter. US Bancorp DE now owns 1,798 shares of the company’s stock worth $566,000 after acquiring an additional 541 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

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.