argenx (NASDAQ:ARGX) Raised to “Outperform” at Sanford C. Bernstein

argenx (NASDAQ:ARGX) was upgraded by investment analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued on Monday.

Several other brokerages have also commented on ARGX. HC Wainwright upped their price target on argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. JMP Securities raised their price target on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a report on Tuesday, January 14th. Truist Financial reissued a “buy” rating and issued a $700.00 price objective (up from $660.00) on shares of argenx in a research report on Tuesday, January 14th. Evercore ISI upped their target price on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Oppenheimer raised their target price on argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $687.00.

argenx Stock Performance

argenx stock opened at $604.96 on Monday. argenx has a 1 year low of $349.86 and a 1 year high of $678.21. The firm has a 50 day moving average price of $638.20 and a 200 day moving average price of $596.88. The company has a market cap of $36.76 billion, a price-to-earnings ratio of -687.45 and a beta of 0.59.

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

Institutional Investors Weigh In On argenx

Several institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in argenx by 17.2% during the 4th quarter. FMR LLC now owns 5,618,222 shares of the company’s stock valued at $3,455,207,000 after buying an additional 824,750 shares during the period. Janus Henderson Group PLC increased its stake in shares of argenx by 0.4% during the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock valued at $1,343,797,000 after acquiring an additional 10,975 shares during the period. Capital World Investors raised its holdings in argenx by 5.1% during the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company’s stock worth $1,099,002,000 after purchasing an additional 86,687 shares in the last quarter. RTW Investments LP lifted its position in argenx by 2.9% in the fourth quarter. RTW Investments LP now owns 673,497 shares of the company’s stock worth $414,201,000 after purchasing an additional 19,067 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in argenx by 6.8% during the 4th quarter. Clearbridge Investments LLC now owns 629,828 shares of the company’s stock valued at $387,344,000 after purchasing an additional 40,330 shares in the last quarter. Institutional investors and hedge funds 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.