argenx (NASDAQ:ARGX) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of argenx (NASDAQ:ARGX) in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a $720.00 price objective on the stock.

Several other equities research analysts have also recently commented on the company. Oppenheimer upped their price target on argenx from $704.00 to $708.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Wells Fargo & Company upped their price target on argenx from $723.00 to $741.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Baird R W upgraded argenx from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Citigroup restated a “buy” rating on shares of argenx in a research note on Wednesday, May 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded argenx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, argenx presently has an average rating of “Buy” and an average price target of $709.18.

argenx Trading Down 1.4%

ARGX stock opened at $575.46 on Tuesday. The company has a market capitalization of $35.14 billion, a P/E ratio of -653.93 and a beta of 0.39. argenx has a twelve month low of $374.55 and a twelve month high of $678.21. The business has a 50 day simple moving average of $585.80 and a 200-day simple moving average of $612.24.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.26. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $748.34 million. Research analysts predict that argenx will post 3.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GeoWealth Management LLC increased its position in shares of argenx by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after buying an additional 18 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of argenx in the fourth quarter valued at $37,000. Global Retirement Partners LLC increased its position in shares of argenx by 369.2% in the fourth quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock valued at $38,000 after buying an additional 48 shares in the last quarter. FIL Ltd acquired a new stake in shares of argenx during the fourth quarter valued at $38,000. Finally, Rakuten Securities Inc. increased its position in argenx by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock worth $36,000 after purchasing an additional 22 shares in the last quarter. 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.