argenx (NASDAQ:ARGX) Stock Rating Reaffirmed by Wedbush

Wedbush reaffirmed their outperform rating on shares of argenx (NASDAQ:ARGX) in a report published on Thursday, Benzinga reports. They currently have a $521.00 price target on the stock.

Several other equities analysts have also recently issued reports on the stock. Piper Sandler lifted their price objective on shares of argenx from $518.00 to $522.00 and gave the stock an overweight rating in a research note on Friday, January 26th. Wolfe Research started coverage on shares of argenx in a research report on Thursday, February 15th. They issued a peer perform rating on the stock. Evercore ISI dropped their target price on shares of argenx from $594.00 to $436.00 and set an outperform rating on the stock in a research report on Thursday, December 21st. JMP Securities reissued a market outperform rating and issued a $471.00 target price on shares of argenx in a research report on Friday, March 22nd. Finally, Wells Fargo & Company lifted their target price on shares of argenx from $472.00 to $478.00 and gave the stock an overweight rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $528.16.

argenx Price Performance

Shares of ARGX opened at $358.41 on Thursday. The firm’s 50 day moving average is $388.25 and its 200-day moving average is $421.81. The stock has a market capitalization of $21.25 billion, a P/E ratio of -69.73 and a beta of 0.65. argenx has a 12-month low of $327.73 and a 12-month high of $550.76.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.45). The business had revenue of $417.84 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned ($0.70) EPS. As a group, equities research analysts forecast that argenx will post -2.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARGX. KB Financial Partners LLC grew its position in argenx by 112.5% during the first quarter. KB Financial Partners LLC now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 45 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in argenx in the fourth quarter valued at approximately $27,000. Parkside Financial Bank & Trust acquired a new stake in argenx in the third quarter valued at approximately $28,000. GAMMA Investing LLC lifted its stake in argenx by 420.0% in the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after acquiring an additional 63 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in argenx in the fourth quarter valued at approximately $38,000. 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.