argenx (NASDAQ:ARGX) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of argenx (NASDAQ:ARGX) in a report published on Monday morning, Benzinga reports. HC Wainwright currently has a $448.00 price objective on the stock.

Several other analysts have also recently weighed in on ARGX. Wells Fargo & Company lifted their price target on shares of argenx from $478.00 to $542.00 and gave the company an overweight rating in a report on Monday. Robert W. Baird cut their price target on shares of argenx from $505.00 to $490.00 and set an outperform rating on the stock in a report on Friday, March 1st. Truist Financial raised their price objective on argenx from $370.00 to $440.00 and gave the company a buy rating in a research report on Tuesday, March 5th. William Blair reissued a market perform rating on shares of argenx in a research report on Monday, June 17th. Finally, Morgan Stanley lowered their price objective on argenx from $515.00 to $510.00 and set an overweight rating for the company in a research report on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, argenx currently has an average rating of Moderate Buy and a consensus target price of $525.42.

argenx Price Performance

Shares of NASDAQ ARGX opened at $445.88 on Monday. argenx has a one year low of $327.73 and a one year high of $550.76. The firm’s 50 day simple moving average is $379.85 and its two-hundred day simple moving average is $386.89. The stock has a market capitalization of $26.50 billion, a P/E ratio of -78.78 and a beta of 0.65.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The business had revenue of $412.51 million for the quarter, compared to the consensus estimate of $404.03 million. During the same quarter in the previous year, the business earned ($0.52) earnings per share. As a group, equities analysts expect that argenx will post -2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

Several hedge funds have recently bought and sold shares of ARGX. PNC Financial Services Group Inc. grew its position in argenx by 6.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,341 shares of the company’s stock valued at $659,000 after acquiring an additional 84 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in argenx in the 3rd quarter valued at $433,000. Envestnet Asset Management Inc. grew its position in argenx by 144.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 43,887 shares of the company’s stock valued at $21,576,000 after acquiring an additional 25,940 shares during the last quarter. Acadian Asset Management LLC grew its position in argenx by 42.9% in the 3rd quarter. Acadian Asset Management LLC now owns 806 shares of the company’s stock valued at $396,000 after acquiring an additional 242 shares during the last quarter. Finally, Mariner LLC grew its position in argenx by 36.1% in the 3rd quarter. Mariner LLC now owns 2,764 shares of the company’s stock valued at $1,359,000 after acquiring an additional 733 shares during the last quarter. Institutional investors 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.