argenx (NASDAQ:ARGX) Given “Outperform” Rating at Wedbush

Wedbush restated their outperform rating on shares of argenx (NASDAQ:ARGX) in a report issued on Friday morning,Benzinga reports. The brokerage currently has a $715.00 target price on the stock.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company increased their price target on shares of argenx from $723.00 to $741.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised shares of argenx from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Robert W. Baird boosted their price target on shares of argenx from $650.00 to $680.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Piper Sandler raised their price objective on argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Oppenheimer boosted their target price on argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $690.33.

argenx Stock Performance

Shares of NASDAQ:ARGX opened at $580.94 on Friday. The firm has a market capitalization of $35.30 billion, a PE ratio of -660.16 and a beta of 0.60. argenx has a 52-week low of $352.77 and a 52-week high of $678.21. The firm has a fifty day moving average of $607.87 and a 200 day moving average of $603.90.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data 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 analysts’ expectations 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 forecast that argenx will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in argenx by 17.2% in the fourth quarter. FMR LLC now owns 5,618,222 shares of the company’s stock worth $3,455,207,000 after buying an additional 824,750 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of argenx in the 3rd quarter worth approximately $88,339,000. Point72 Asset Management L.P. bought a new position in shares of argenx in the 4th quarter worth approximately $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 during the period. Finally, GAMMA Investing LLC boosted its position in shares of argenx by 53,684.9% during the first 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 hedge funds and other 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.