Guggenheim Reaffirms Buy Rating for argenx (NASDAQ:ARGX)

Guggenheim reaffirmed their buy rating on shares of argenx (NASDAQ:ARGX) in a research report sent to investors on Thursday morning, Benzinga reports. Guggenheim currently has a $585.00 price objective on the stock.

ARGX has been the topic of several other reports. Piper Sandler raised their price objective on argenx from $522.00 to $535.00 and gave the stock an overweight rating in a report on Monday, June 24th. JPMorgan Chase & Co. raised their price target on argenx from $500.00 to $640.00 and gave the company an overweight rating in a research note on Friday, August 23rd. Evercore ISI upped their price objective on shares of argenx from $478.00 to $533.00 and gave the stock an outperform rating in a research note on Friday, July 12th. Barclays upgraded shares of argenx from an equal weight rating to an overweight rating in a report on Tuesday, August 6th. Finally, Stifel Nicolaus raised their target price on shares of argenx from $485.00 to $500.00 and gave the company a buy rating in a research report on Monday, June 24th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $547.74.

argenx Trading Up 2.2 %

Shares of ARGX opened at $536.11 on Thursday. The firm has a market capitalization of $31.86 billion, a P/E ratio of -94.72 and a beta of 0.62. argenx has a 12-month low of $327.73 and a 12-month high of $554.74. The firm has a fifty day moving average price of $519.04 and a 200-day moving average price of $437.78.

argenx (NASDAQ:ARGX) last released 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. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The company had revenue of $489.43 million during the quarter, compared to analysts’ expectations of $436.66 million. During the same period in the previous year, the company earned ($1.69) EPS. Analysts predict that argenx will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in argenx by 26.2% in the 4th quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock worth $106,204,000 after purchasing an additional 57,956 shares in the last quarter. Sectoral Asset Management Inc. lifted its stake in shares of 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 holdings in shares of argenx by 88.2% during the fourth quarter. Boxer Capital LLC now owns 160,000 shares of the company’s stock valued at $60,869,000 after buying an additional 75,000 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of argenx by 9.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 47,583 shares of the company’s stock valued at $18,102,000 after acquiring an additional 3,967 shares during the period. Finally, Altitude Crest Partners Inc. purchased a new position in argenx in the 4th quarter worth $11,223,000. Institutional investors and hedge funds 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.