argenx (NASDAQ:ARGX) Raised to Overweight at Barclays

Barclays upgraded shares of argenx (NASDAQ:ARGX) from an equal weight rating to an overweight rating in a report issued on Tuesday morning, Marketbeat.com reports.

Other equities analysts have also issued research reports about the stock. Morgan Stanley cut their price objective on shares of argenx from $515.00 to $510.00 and set an overweight rating for the company in a research report on Tuesday, May 28th. Piper Sandler boosted their price target on argenx from $522.00 to $535.00 and gave the company an overweight rating in a report on Monday, June 24th. Stifel Nicolaus raised their price objective on argenx from $485.00 to $500.00 and gave the stock a buy rating in a report on Monday, June 24th. Robert W. Baird upped their target price on argenx from $490.00 to $515.00 and gave the company an outperform rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. reduced their target price on argenx from $560.00 to $500.00 and set an overweight rating on the stock in a research report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $540.37.

argenx Price Performance

Shares of argenx stock opened at $525.25 on Tuesday. argenx has a 1 year low of $327.73 and a 1 year high of $532.59. The business has a 50 day moving average price of $440.64 and a 200 day moving average price of $402.75. The company has a market capitalization of $31.22 billion, a P/E ratio of -92.80 and a beta of 0.64.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $1.34. The business had revenue of $489.43 million for the quarter, compared to the consensus estimate of $436.66 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same period in the prior year, the business earned ($1.69) earnings per share. As a group, research analysts expect that argenx will post -0.48 EPS for the current fiscal year.

Institutional Trading of argenx

A number of hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in argenx by 13.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 62,999 shares of the company’s stock worth $27,092,000 after buying an additional 7,645 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of argenx by 11.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,255 shares of the company’s stock worth $1,400,000 after acquiring an additional 339 shares during the last quarter. Headlands Technologies LLC lifted its stake in shares of argenx by 112.7% in the second quarter. Headlands Technologies LLC now owns 2,144 shares of the company’s stock worth $922,000 after acquiring an additional 1,136 shares in the last quarter. Varma Mutual Pension Insurance Co boosted its holdings in argenx by 20.0% in the second quarter. Varma Mutual Pension Insurance Co now owns 6,000 shares of the company’s stock valued at $2,580,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Gallacher Capital Management LLC acquired a new stake in argenx during the 2nd quarter valued at approximately $202,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenx Company Profile

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.