argenx (NASDAQ:ARGX) Stock Rating Reaffirmed by Wedbush

Wedbush reaffirmed their outperform rating on shares of argenx (NASDAQ:ARGX) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $519.00 price target on the stock. Wedbush also issued estimates for argenx’s Q2 2024 earnings at ($1.67) EPS, Q3 2024 earnings at ($1.58) EPS, Q4 2024 earnings at ($1.34) EPS, FY2024 earnings at ($5.63) EPS, Q1 2025 earnings at ($0.63) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at ($0.83) EPS, FY2026 earnings at $9.92 EPS and FY2027 earnings at $28.75 EPS.

A number of other equities analysts also recently commented on the company. Truist Financial boosted their price objective on argenx from $440.00 to $480.00 and gave the stock a buy rating in a research report on Tuesday, June 25th. Scotiabank boosted their price objective on argenx from $402.00 to $408.00 and gave the stock a sector perform rating in a research report on Tuesday, March 26th. Robert W. Baird lowered their price target on argenx from $505.00 to $490.00 and set an outperform rating for the company in a report on Friday, March 1st. HC Wainwright reaffirmed a buy rating and issued a $448.00 price target on shares of argenx in a report on Monday, June 24th. Finally, Morgan Stanley lowered their price target on argenx from $515.00 to $510.00 and set an overweight rating for the company in a report on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, argenx currently has an average rating of Moderate Buy and a consensus price target of $525.42.

argenx Price Performance

Shares of NASDAQ:ARGX opened at $430.04 on Wednesday. The firm has a market capitalization of $25.56 billion, a PE ratio of -75.98 and a beta of 0.65. The firm’s 50-day moving average is $382.97 and its two-hundred day moving average is $386.68. 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 Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. The business had revenue of $412.51 million for the quarter, compared to analysts’ expectations of $404.03 million. During the same quarter last year, the company earned ($0.52) earnings per share. Analysts expect that argenx will post -2.88 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

Several large investors have recently modified their holdings of ARGX. Parkside Financial Bank & Trust purchased a new stake in shares of argenx during the third quarter worth approximately $28,000. GAMMA Investing LLC raised its position in argenx by 420.0% in the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 63 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in argenx in the fourth quarter worth $38,000. Mather Group LLC. purchased a new position in argenx in the first quarter worth $38,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in argenx in the fourth quarter worth $60,000. 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, 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.