argenx (NASDAQ:ARGX) Receives “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of argenx (NASDAQ:ARGX) in a research report released on Wednesday morning, Benzinga reports. They currently have a $519.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. JMP Securities lowered their price target on shares of argenx from $471.00 to $468.00 and set a market outperform rating for the company in a report on Friday, May 10th. Wells Fargo & Company upped their price target on shares of argenx from $478.00 to $542.00 and gave the stock an overweight rating in a report on Monday, June 24th. JPMorgan Chase & Co. lowered their price target on shares of argenx from $560.00 to $500.00 and set an overweight rating for the company in a report on Monday, May 13th. Evercore ISI upped their price target on shares of argenx from $478.00 to $533.00 and gave the stock an outperform rating in a report on Friday, July 12th. Finally, Stifel Nicolaus upped their price target on shares of argenx from $485.00 to $500.00 and gave the stock a buy rating in a report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $533.47.

argenx Price Performance

Shares of ARGX opened at $471.32 on Wednesday. The firm has a 50 day simple moving average of $404.75 and a two-hundred day simple moving average of $392.09. The company has a market cap of $28.01 billion, a P/E ratio of -83.27 and a beta of 0.64. argenx has a one year low of $327.73 and a one year high of $550.76.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.33). The company had revenue of $412.51 million for the quarter, compared to analyst estimates of $404.03 million. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. During the same quarter last year, the company posted ($0.52) earnings per share. On average, analysts expect that argenx will post -2.93 earnings per share for the current fiscal year.

Institutional Trading of argenx

A number of institutional investors have recently bought and sold shares of ARGX. Price T Rowe Associates Inc. MD boosted its position in argenx by 49.8% during the first 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 during the last quarter. Capital World Investors boosted its position in argenx by 37.0% during the fourth quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock valued at $746,099,000 after acquiring an additional 530,181 shares during the last quarter. Janus Henderson Group PLC boosted its position in argenx by 24.8% during the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after acquiring an additional 439,889 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in argenx by 12.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock valued at $1,207,666,000 after acquiring an additional 346,178 shares during the last quarter. Finally, Avoro Capital Advisors LLC boosted its position in argenx by 23.5% during the fourth quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock valued at $469,666,000 after acquiring an additional 234,567 shares during the last quarter. 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.