argenx’s (ARGX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of argenx (NASDAQ:ARGX) in a research note published on Tuesday,Benzinga reports. HC Wainwright currently has a $720.00 target price on the stock.

A number of other analysts have also recently commented on ARGX. Baird R W upgraded argenx from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Citigroup reissued a “buy” rating on shares of argenx in a research note on Wednesday, May 21st. Guggenheim decreased their price target on argenx from $1,100.00 to $1,065.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. JMP Securities set a $699.00 price target on argenx in a research note on Wednesday, May 14th. Finally, Sanford C. Bernstein raised argenx from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $709.18.

argenx Trading Down 1.4%

argenx stock opened at $575.46 on Tuesday. The stock has a market cap of $35.14 billion, a PE ratio of -653.93 and a beta of 0.39. The stock has a 50-day moving average price of $585.80 and a 200 day moving average price of $612.24. argenx has a 52 week low of $374.55 and a 52 week 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, topping analysts’ consensus estimates of $2.32 by $0.26. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $748.34 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. On average, equities analysts predict that argenx will post 3.13 EPS for the current year.

Hedge Funds Weigh In On argenx

Several hedge funds and other institutional investors have recently modified their holdings of ARGX. FMR LLC lifted its stake in shares of argenx by 17.2% in the 4th quarter. FMR LLC now owns 5,618,222 shares of the company’s stock valued at $3,455,207,000 after purchasing an additional 824,750 shares in the last quarter. Millennium Management LLC lifted its stake in shares of argenx by 316.9% in the 1st quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock valued at $158,977,000 after purchasing an additional 204,180 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of argenx in the 4th quarter valued at about $91,013,000. Allspring Global Investments Holdings LLC lifted its stake in shares of argenx by 38,152.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company’s stock valued at $89,391,000 after purchasing an additional 143,834 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of argenx by 53,684.9% in the 1st quarter. GAMMA Investing LLC now owns 135,538 shares of the company’s stock valued at $802,200,000 after purchasing an additional 135,286 shares in 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.