argenx (NASDAQ:ARGX) Stock Rating Reaffirmed by HC Wainwright

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $451.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 14.55% from the stock’s previous close.

A number of other research analysts have also recently commented on ARGX. Wells Fargo & Company increased their price target on shares of argenx from $472.00 to $478.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Citigroup cut their target price on shares of argenx from $610.00 to $591.00 and set a “buy” rating on the stock in a report on Wednesday, November 29th. Wolfe Research began coverage on shares of argenx in a report on Thursday, February 15th. They issued a “peer perform” rating on the stock. Truist Financial raised their target price on shares of argenx from $370.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Raymond James cut their target price on shares of argenx from $580.00 to $520.00 and set a “strong-buy” rating on the stock in a report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $530.74.

argenx Trading Down 1.2 %

ARGX stock opened at $393.72 on Wednesday. The company’s 50 day moving average is $387.95 and its 200 day moving average is $434.94. The stock has a market cap of $23.35 billion, a price-to-earnings ratio of -76.60 and a beta of 0.65. argenx has a 1-year low of $327.73 and a 1-year high of $550.76.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.45). argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. The business had revenue of $417.84 million for the quarter, compared to the consensus estimate of $378.60 million. During the same quarter in the previous year, the business earned ($0.70) earnings per share. As a group, sell-side analysts forecast that argenx will post -2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of argenx by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,673,855 shares of the company’s stock worth $1,397,645,000 after purchasing an additional 14,340 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of argenx by 12.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock worth $1,207,666,000 after purchasing an additional 346,178 shares during the last quarter. Capital World Investors raised its position in shares of argenx by 37.0% in the 4th quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock worth $746,099,000 after purchasing an additional 530,181 shares during the last quarter. Jennison Associates LLC raised its position in shares of argenx by 32.2% in the 3rd quarter. Jennison Associates LLC now owns 1,511,745 shares of the company’s stock worth $743,219,000 after purchasing an additional 368,367 shares during the last quarter. Finally, Avoro Capital Advisors LLC raised its position in shares of argenx by 23.5% in the 4th quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock worth $469,666,000 after purchasing an additional 234,567 shares during the last quarter. Hedge funds and other 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, the Netherlands, Belgium, Japan, Switzerland, Germany, France, Canada, the United Kingdom, and Italy. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, pemphigus foliaceus, chronic inflammatory demyelinating polyneuropathy, bullous pemphigoid, and idiopathic inflammatory myopathy; and ENHANZE SC.