argenx (NASDAQ:ARGX) Stock Rating Reaffirmed by HC Wainwright

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They currently have a $451.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 25.20% from the company’s current price.

Several other equities analysts have also recently issued reports on ARGX. Evercore ISI lowered their target price on shares of argenx from $594.00 to $436.00 and set an “outperform” rating on the stock in a research note on Thursday, December 21st. Raymond James lowered their target price on shares of argenx from $580.00 to $520.00 and set a “strong-buy” rating on the stock in a research note on Thursday, December 21st. Piper Sandler upped their target price on shares of argenx from $518.00 to $522.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Scotiabank upped their target price on shares of argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 26th. Finally, Truist Financial upped their target price on shares of argenx from $370.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen 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 an average target price of $528.16.

argenx Price Performance

Shares of argenx stock opened at $360.23 on Thursday. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of -70.08 and a beta of 0.65. The firm’s 50-day moving average is $387.43 and its 200 day moving average is $420.93. argenx has a 1 year low of $327.73 and a 1 year high of $550.76.

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

Institutional Investors Weigh In On argenx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. JPMorgan Chase & Co. increased its holdings in argenx by 143.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,577 shares of the company’s stock worth $497,000 after acquiring an additional 928 shares in the last quarter. Raymond James & Associates increased its holdings in argenx by 19.4% in 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. increased its holdings in argenx by 46.0% in 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 boosted its stake in argenx by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,447 shares of the company’s stock worth $2,033,000 after purchasing an additional 271 shares during the period. Finally, US Bancorp DE boosted its stake in argenx by 43.0% in the 1st quarter. US Bancorp DE now owns 1,798 shares of the company’s stock worth $566,000 after purchasing an additional 541 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

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.