argenx (NASDAQ:ARGX) Earns “Buy” Rating from Bank of America

Bank of America reaffirmed their buy rating on shares of argenx (NASDAQ:ARGX) in a research report report published on Monday morning, Benzinga reports. They currently have a $607.00 target price on the stock, up from their previous target price of $535.00.

ARGX has been the subject of several other research reports. Scotiabank increased their price objective on shares of argenx from $402.00 to $408.00 and gave the company a sector perform rating in a research note on Tuesday, March 26th. William Blair reiterated a market perform rating on shares of argenx in a report on Monday, June 17th. Piper Sandler boosted their price target on shares of argenx from $522.00 to $535.00 and gave the stock an overweight rating in a report on Monday. Stifel Nicolaus lifted their price objective on shares of argenx from $485.00 to $500.00 and gave the stock a buy rating in a research report on Monday. Finally, Truist Financial raised their price target on argenx from $370.00 to $440.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, argenx has an average rating of Moderate Buy and a consensus price target of $525.42.

argenx Trading Down 0.2 %

Shares of NASDAQ ARGX opened at $444.94 on Monday. The firm has a market cap of $26.44 billion, a PE ratio of -78.61 and a beta of 0.65. argenx has a 1-year low of $327.73 and a 1-year high of $550.76. The company has a fifty day moving average price of $381.58 and a 200 day moving average price of $387.30.

argenx (NASDAQ:ARGX) last issued its earnings results on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). The firm had revenue of $412.51 million during the quarter, compared to the consensus estimate of $404.03 million. argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. During the same period in the previous year, the company posted ($0.52) earnings per share. Equities research analysts forecast that argenx will post -2.89 EPS for the current year.

Institutional Trading of argenx

Large investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of argenx by 26.2% in the 4th quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock valued at $106,204,000 after purchasing an additional 57,956 shares in the last quarter. Sectoral Asset Management Inc. grew its stake in argenx by 717.2% during the fourth quarter. Sectoral Asset Management Inc. now owns 10,027 shares of the company’s stock worth $3,815,000 after buying an additional 8,800 shares during the period. Boxer Capital LLC grew its stake in argenx by 88.2% during the fourth quarter. Boxer Capital LLC now owns 160,000 shares of the company’s stock worth $60,869,000 after buying an additional 75,000 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of argenx by 9.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 47,583 shares of the company’s stock worth $18,102,000 after purchasing an additional 3,967 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of argenx by 30.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock worth $5,505,000 after purchasing an additional 3,374 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.