argenx (NASDAQ:ARGX) Given Strong-Buy Rating at Raymond James

Raymond James reaffirmed their strong-buy rating on shares of argenx (NASDAQ:ARGX) in a research report sent to investors on Thursday, Marketbeat.com reports. Raymond James currently has a $605.00 target price on the stock.

ARGX has been the topic of a number of other research reports. Guggenheim reissued a buy rating and issued a $585.00 target price on shares of argenx in a research note on Thursday, September 26th. Bank of America reissued a buy rating and issued a $607.00 target price (up previously from $535.00) on shares of argenx in a research note on Monday, June 24th. HC Wainwright lifted their price target on shares of argenx from $504.00 to $533.00 and gave the stock a buy rating in a research note on Friday, July 26th. William Blair reaffirmed a market perform rating on shares of argenx in a research note on Monday, June 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of argenx from $500.00 to $640.00 and gave the stock an overweight rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, argenx presently has a consensus rating of Moderate Buy and an average target price of $548.00.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $527.25 on Thursday. argenx has a 1 year low of $327.73 and a 1 year high of $554.74. The firm’s 50 day moving average price is $526.86 and its 200 day moving average price is $447.25.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. During the same quarter last year, the business earned ($1.69) earnings per share. On average, equities research analysts forecast that argenx will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenx

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management bought a new stake in shares of argenx in the 3rd quarter worth about $262,000. Perpetual Ltd acquired a new position in shares of argenx in the 3rd quarter valued at about $76,314,000. GAMMA Investing LLC boosted its holdings in shares of argenx by 47.5% in the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock valued at $94,000 after buying an additional 56 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of argenx by 0.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,642 shares of the company’s stock valued at $14,984,000 after buying an additional 224 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of argenx in the 2nd quarter valued at about $755,000. 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.