argenx’s (ARGX) “Outperform” Rating Reaffirmed at William Blair

argenx (NASDAQ:ARGX)‘s stock had its “outperform” rating reissued by analysts at William Blair in a research report issued to clients and investors on Friday,RTT News reports.

A number of other brokerages have also issued reports on ARGX. JMP Securities boosted their target price on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 14th. Oppenheimer reissued an “outperform” rating and issued a $675.00 price objective (up from $646.00) on shares of argenx in a research report on Thursday, November 21st. Baird R W lowered shares of argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. Finally, Evercore ISI increased their price objective on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $661.17.

argenx Stock Performance

NASDAQ ARGX traded down $6.08 during trading on Friday, hitting $618.62. The stock had a trading volume of 195,907 shares, compared to its average volume of 270,645. argenx has a one year low of $349.86 and a one year high of $678.21. The stock has a 50 day simple moving average of $642.61 and a 200 day simple moving average of $589.72. The stock has a market capitalization of $37.59 billion, a price-to-earnings ratio of -703.45 and a beta of 0.58.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.60. The firm had revenue of $761.22 million during the quarter, compared to analyst estimates of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. On average, sell-side analysts predict that argenx will post 3.13 EPS for the current year.

Institutional Trading of argenx

A number of institutional investors have recently modified their holdings of ARGX. FMR LLC boosted its stake in argenx by 35.9% in the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of argenx during the 3rd quarter valued at $88,339,000. Point72 Asset Management L.P. purchased a new stake in shares of argenx during the 4th quarter valued at $91,013,000. Allspring Global Investments Holdings LLC boosted its position 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 worth $89,391,000 after purchasing an additional 143,834 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in argenx by 184.7% during the 4th quarter. Marshall Wace LLP now owns 191,553 shares of the company’s stock worth $117,805,000 after buying an additional 124,271 shares during the last quarter. 60.32% of the stock is currently owned by 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.