argenx (NASDAQ:ARGX) Given “Outperform” Rating at Oppenheimer

argenx (NASDAQ:ARGX)‘s stock had its “outperform” rating reissued by equities research analysts at Oppenheimer in a research note issued on Thursday,Benzinga reports. They presently have a $675.00 price target on the stock, up from their prior price target of $646.00. Oppenheimer’s price target would indicate a potential upside of 14.94% from the company’s previous close.

Several other analysts have also recently issued reports on ARGX. Citigroup upped their target price on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Wolfe Research raised shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective on the stock in a research report on Tuesday, November 12th. Evercore ISI raised their price objective on shares of argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $630.42.

argenx Stock Performance

argenx stock traded down $4.58 during mid-day trading on Thursday, hitting $587.24. The company’s stock had a trading volume of 45,588 shares, compared to its average volume of 308,430. The company has a 50 day moving average of $555.08 and a 200-day moving average of $485.94. The stock has a market cap of $35.12 billion, a PE ratio of -670.64 and a beta of 0.61. argenx has a one year low of $327.73 and a one year high of $611.22.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. During the same period last year, the business posted ($1.25) EPS. On average, equities research analysts forecast that argenx will post 2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp lifted its position in shares of argenx by 7.2% during the third quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock valued at $2,335,000 after purchasing an additional 289 shares in the last quarter. MML Investors Services LLC increased its position in shares of argenx by 16.9% during the third quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock valued at $4,715,000 after buying an additional 1,255 shares during the period. Orion Portfolio Solutions LLC grew its position in argenx by 2.7% in the third quarter. Orion Portfolio Solutions LLC now owns 8,800 shares of the company’s stock worth $4,768,000 after acquiring an additional 234 shares in the last quarter. XTX Topco Ltd grew its position in argenx by 50.7% during the third quarter. XTX Topco Ltd now owns 5,030 shares of the company’s stock valued at $2,727,000 after acquiring an additional 1,693 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in argenx by 13.0% in the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after purchasing an additional 55,617 shares during the last quarter. Institutional investors 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.