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

HC Wainwright reaffirmed their buy rating on shares of argenx (NASDAQ:ARGX) in a research note released on Thursday, Benzinga reports. They currently have a $451.00 price target on the stock.

A number of other analysts also recently commented on the company. JMP Securities restated a market outperform rating and issued a $471.00 target price on shares of argenx in a research note on Friday, March 22nd. Evercore ISI lowered their price target on argenx from $594.00 to $436.00 and set an outperform rating on the stock in a research report on Thursday, December 21st. Piper Sandler increased their price target on argenx from $518.00 to $522.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Wolfe Research began coverage on argenx in a research report on Thursday, February 15th. They set a peer perform rating on the stock. Finally, Truist Financial increased their price target on argenx from $370.00 to $440.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, argenx currently has a consensus rating of Moderate Buy and a consensus target price of $528.16.

argenx Stock Performance

Shares of ARGX opened at $358.41 on Thursday. The stock has a 50-day moving average of $388.25 and a two-hundred day moving average of $421.81. argenx has a one year low of $327.73 and a one year high of $550.76. The stock has a market cap of $21.25 billion, a P/E ratio of -69.73 and a beta of 0.65.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.45). argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. The company had revenue of $417.84 million during the quarter, compared to analysts’ expectations of $378.60 million. During the same quarter in the previous year, the company earned ($0.70) EPS. Analysts predict that argenx will post -2.11 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

Several hedge funds and other institutional investors have recently made changes to their positions in ARGX. Capital World Investors grew its position in argenx by 37.0% in the fourth quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock worth $746,099,000 after acquiring an additional 530,181 shares during the period. Massachusetts Financial Services Co. MA grew its position in argenx by 339.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 581,586 shares of the company’s stock worth $285,925,000 after acquiring an additional 449,151 shares during the period. Morgan Stanley boosted its position in shares of argenx by 236.9% during the fourth quarter. Morgan Stanley now owns 630,330 shares of the company’s stock worth $238,788,000 after buying an additional 443,217 shares during the period. Jennison Associates LLC boosted its position in shares of argenx by 32.2% during the third quarter. Jennison Associates LLC now owns 1,511,745 shares of the company’s stock worth $743,219,000 after buying an additional 368,367 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in shares of argenx by 12.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock worth $1,207,666,000 after buying an additional 346,178 shares during the period. 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.