argenx (NASDAQ:ARGX) Stock Rating Reaffirmed by HC Wainwright

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $451.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 25.20% from the stock’s current price.

A number of other research analysts also recently issued reports on ARGX. 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. Scotiabank boosted their target price on shares of argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 26th. Truist Financial boosted their target price on shares of argenx from $370.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. JMP Securities reiterated a “market outperform” rating and set a $471.00 target price on shares of argenx in a research report on Friday, March 22nd. Finally, Raymond James lowered their price objective on shares of argenx from $580.00 to $520.00 and set a “strong-buy” rating on the stock in a report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $528.16.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $360.23 on Thursday. The company has a market capitalization of $21.36 billion, a P/E ratio of -70.08 and a beta of 0.65. argenx has a 52-week low of $327.73 and a 52-week high of $550.76. The company’s 50 day moving average price is $387.43 and its 200-day moving average price is $420.93.

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

Institutional Trading of argenx

Several institutional investors have recently made changes to their positions in ARGX. Raymond James Financial Services Advisors Inc. grew its position in argenx by 30.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock valued at $5,505,000 after buying an additional 3,374 shares during the period. China Universal Asset Management Co. Ltd. grew its position in argenx by 388.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,719 shares of the company’s stock valued at $1,415,000 after buying an additional 2,958 shares during the period. RTW Investments LP grew its position in argenx by 5.2% during the third quarter. RTW Investments LP now owns 507,195 shares of the company’s stock valued at $249,352,000 after buying an additional 25,000 shares during the period. Townsquare Capital LLC grew its position in argenx by 96.6% during the third quarter. Townsquare Capital LLC now owns 3,442 shares of the company’s stock valued at $1,692,000 after buying an additional 1,691 shares during the period. Finally, Northern Trust Corp grew its position in argenx by 41.1% during the third quarter. Northern Trust Corp now owns 39,936 shares of the company’s stock valued at $19,634,000 after buying an additional 11,627 shares during the period. Institutional investors 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.