argenx (NASDAQ:ARGX) Raised to “Strong-Buy” at Baird R W

Baird R W upgraded shares of argenx (NASDAQ:ARGX) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Several other brokerages also recently issued reports on ARGX. HC Wainwright restated a “buy” rating and issued a $720.00 price objective on shares of argenx in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded argenx from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Citigroup reiterated an “outperform” rating on shares of argenx in a report on Wednesday. Robert W. Baird upgraded argenx from a “neutral” rating to an “outperform” rating and set a $680.00 target price on the stock in a research note on Tuesday. Finally, Wedbush reiterated an “outperform” rating and set a $715.00 price objective on shares of argenx in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $698.11.

argenx Stock Performance

argenx stock opened at $561.75 on Tuesday. The company has a 50-day simple moving average of $591.92 and a 200-day simple moving average of $612.84. The firm has a market capitalization of $34.30 billion, a P/E ratio of -638.35 and a beta of 0.57. argenx has a one year low of $356.38 and a one year high of $678.21.

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

Institutional Trading of argenx

Several large investors have recently bought and sold shares of ARGX. Federation des caisses Desjardins du Quebec raised its position in shares of argenx by 105.6% during the first quarter. Federation des caisses Desjardins du Quebec now owns 2,921 shares of the company’s stock worth $1,729,000 after acquiring an additional 1,500 shares during the last quarter. Braidwell LP lifted its position in shares of argenx by 99.2% during the 1st quarter. Braidwell LP now owns 160,849 shares of the company’s stock valued at $95,201,000 after buying an additional 80,083 shares during the last quarter. Royal Bank of Canada lifted its position in shares of argenx by 0.9% during the 1st quarter. Royal Bank of Canada now owns 38,306 shares of the company’s stock valued at $22,673,000 after buying an additional 353 shares during the last quarter. OLD Mission Capital LLC purchased a new stake in argenx during the 1st quarter worth about $8,864,000. Finally, Vident Advisory LLC increased its stake in argenx by 24.7% in the 1st quarter. Vident Advisory LLC now owns 1,110 shares of the company’s stock worth $657,000 after acquiring an additional 220 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

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.