argenx’s (ARGX) “Buy” Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of argenx (NASDAQ:ARGX) in a research note released on Tuesday morning,Benzinga reports. They currently have a $700.00 price target on the stock, up from their previous price target of $660.00.

A number of other brokerages have also commented on ARGX. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Wedbush restated an “outperform” rating and set a $655.00 price target on shares of argenx in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price target on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Oppenheimer reiterated an “outperform” rating and set a $675.00 price objective (up previously from $646.00) on shares of argenx in a research note on Thursday, November 21st. Finally, Piper Sandler upped their target price on argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, argenx currently has a consensus rating of “Moderate Buy” and an average price target of $658.39.

argenx Stock Down 0.8 %

Shares of NASDAQ:ARGX opened at $659.81 on Tuesday. The company’s 50-day moving average price is $619.30 and its 200 day moving average price is $554.23. The company has a market cap of $39.83 billion, a PE ratio of -749.78 and a beta of 0.59. argenx has a fifty-two week low of $349.86 and a fifty-two week high of $678.21.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $543.29 million. During the same period in the previous year, the firm posted ($1.25) earnings per share. As a group, equities analysts anticipate that argenx will post 2.17 EPS for the current year.

Institutional Trading of argenx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp increased its position in shares of argenx by 15.3% in the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock worth $4,788,000 after acquiring an additional 1,170 shares in the last quarter. FMR LLC boosted its stake in argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after purchasing an additional 1,265,486 shares during the period. Simplify Asset Management Inc. grew its position in argenx by 64.0% during the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after purchasing an additional 944 shares in the last quarter. Perpetual Ltd purchased a new position in argenx during the 3rd quarter worth approximately $76,314,000. Finally, Logos Global Management LP acquired a new stake in argenx during the 2nd quarter valued at $58,055,000. 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.