argenx SE (NASDAQ:ARGX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of argenx SE (NASDAQ:ARGX) have been given a consensus recommendation of “Moderate Buy” by the twenty-two research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $547.74.

ARGX has been the topic of several recent research reports. Wedbush raised their price target on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. HC Wainwright raised their price target on argenx from $504.00 to $533.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Robert W. Baird raised their target price on argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Piper Sandler raised their target price on argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Finally, Guggenheim raised their target price on argenx from $545.00 to $585.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARGX. Gilbert & Cook Inc. raised its stake in shares of argenx by 8.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,991 shares of the company’s stock worth $757,000 after purchasing an additional 147 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of argenx in the fourth quarter worth $99,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of argenx by 21.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,070 shares of the company’s stock worth $407,000 after purchasing an additional 190 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of argenx by 3.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,428 shares of the company’s stock worth $543,000 after purchasing an additional 43 shares during the last quarter. Finally, New Century Financial Group LLC purchased a new position in shares of argenx in the fourth quarter worth $212,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenx Trading Up 1.3 %

Shares of argenx stock opened at $529.06 on Friday. The firm has a market capitalization of $31.44 billion, a PE ratio of -93.47 and a beta of 0.62. The business’s 50-day moving average price is $508.53 and its 200-day moving average price is $430.04. argenx has a 12 month low of $327.73 and a 12 month high of $554.74.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. During the same period in the prior year, the company earned ($1.69) EPS. As a group, analysts predict that argenx will post -0.37 earnings per share for the current fiscal year.

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.