argenx (NASDAQ:ARGX) Cut to Hold at Baird R W

argenx (NASDAQ:ARGX) was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

ARGX has been the topic of a number of other research reports. Piper Sandler upped their target price on shares of argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a research note on Friday. Wedbush upped their target price on shares of argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. 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. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday. Finally, Barclays raised shares of argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $596.78.

argenx Stock Performance

NASDAQ:ARGX opened at $595.58 on Friday. The company has a market cap of $35.61 billion, a price-to-earnings ratio of -676.80 and a beta of 0.63. The firm’s 50-day moving average is $537.88 and its 200-day moving average is $464.29. argenx has a 52-week low of $327.73 and a 52-week high of $610.73.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. The business had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same quarter in the previous year, the firm posted ($1.25) earnings per share. Equities analysts predict that argenx will post -0.36 EPS for the current year.

Hedge Funds Weigh In On argenx

Several large investors have recently bought and sold shares of the business. Assetmark Inc. lifted its holdings in argenx by 8.3% in the third quarter. Assetmark Inc. now owns 7,769 shares of the company’s stock valued at $4,211,000 after buying an additional 598 shares during the period. Keudell Morrison Wealth Management acquired a new position in argenx in the third quarter valued at approximately $207,000. Nvwm LLC acquired a new position in argenx in the third quarter valued at approximately $533,000. Janney Montgomery Scott LLC lifted its holdings in argenx by 201.2% in the third quarter. Janney Montgomery Scott LLC now owns 2,072 shares of the company’s stock valued at $1,123,000 after buying an additional 1,384 shares during the period. Finally, US Bancorp DE lifted its holdings in argenx by 7.8% in the third quarter. US Bancorp DE now owns 4,350 shares of the company’s stock valued at $2,358,000 after buying an additional 316 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.