HC Wainwright Issues Positive Forecast for argenx (NASDAQ:ARGX) Stock Price

argenx (NASDAQ:ARGX) had its price target hoisted by HC Wainwright from $533.00 to $617.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Oppenheimer upgraded shares of argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price target for the company in a research note on Tuesday, July 23rd. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of argenx from $500.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Raymond James reissued a “strong-buy” rating and issued a $605.00 target price on shares of argenx in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price objective on argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, argenx currently has a consensus rating of “Moderate Buy” and a consensus target price of $596.78.

argenx Stock Up 1.6 %

argenx stock traded up $9.28 during trading hours on Friday, hitting $595.58. The stock had a trading volume of 468,633 shares, compared to its average volume of 309,272. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $610.73. The company has a market cap of $35.61 billion, a PE ratio of -676.80 and a beta of 0.63. The company has a 50-day moving average of $539.46 and a two-hundred day moving average of $465.81.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period last year, the business earned ($1.25) earnings per share. As a group, analysts forecast that argenx will post -0.36 EPS for the current fiscal year.

Institutional Trading of argenx

Several hedge funds and other institutional investors have recently modified their holdings of ARGX. Price T Rowe Associates Inc. MD lifted its stake in argenx by 49.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after acquiring an additional 1,830,651 shares in the last quarter. Janus Henderson Group PLC grew its position in argenx by 24.8% in the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after purchasing an additional 439,889 shares in the last quarter. Clearbridge Investments LLC lifted its position in argenx by 36.5% during the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock worth $234,766,000 after buying an additional 159,480 shares in the last quarter. Perpetual Ltd acquired a new position in shares of argenx during the 3rd quarter worth about $76,314,000. Finally, Logos Global Management LP bought a new position in shares of argenx in the 2nd quarter valued at about $58,055,000. 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.