Guggenheim Reaffirms Buy Rating for argenx (NASDAQ:ARGX)

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reissued by equities researchers at Guggenheim in a research note issued on Thursday, Benzinga reports. They presently have a $585.00 target price on the stock. Guggenheim’s price target would indicate a potential upside of 9.17% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler boosted their price target on shares of argenx from $522.00 to $535.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft raised argenx from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Evercore ISI raised their price objective on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Truist Financial boosted their target price on argenx from $480.00 to $540.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, HC Wainwright raised their price target on argenx from $504.00 to $533.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $547.74.

argenx Stock Down 2.4 %

NASDAQ ARGX traded down $13.16 on Thursday, reaching $535.85. The company had a trading volume of 71,518 shares, compared to its average volume of 319,552. The stock has a market capitalization of $32.04 billion, a PE ratio of -94.43 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 50 day moving average price is $516.59 and its 200 day moving average price is $435.77.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. During the same period in the previous year, the firm posted ($1.69) earnings per share. On average, research analysts expect that argenx will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. J.Safra Asset Management Corp grew its position in shares of argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after buying an additional 59 shares in the last quarter. Blue Trust Inc. lifted its stake in argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after acquiring an additional 62 shares during the period. GAMMA Investing LLC grew its holdings in argenx by 420.0% during the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 63 shares in the last quarter. Mather Group LLC. purchased a new position in argenx during the 1st quarter valued at about $38,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of argenx in the 2nd quarter valued at about $76,000. 60.32% of the stock is currently owned by hedge funds and other 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.