argenx (NASDAQ:ARGX) Downgraded by Baird R W to “Hold”

Baird R W lowered shares of argenx (NASDAQ:ARGX) from a strong-buy rating to a hold rating in a research report released on Friday, Zacks.com reports.

A number of other analysts have also recently commented on the stock. Citigroup upped their target price on shares of argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. JMP Securities upped their price objective on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research note on Friday. Evercore ISI lifted their target price on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Truist Financial upped their target price on shares of argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, William Blair raised argenx from a “market perform” rating to an “outperform” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $596.78.

argenx Trading Up 1.6 %

ARGX traded up $9.28 during trading on Friday, hitting $595.58. 468,633 shares of the company’s stock traded hands, compared to its average volume of 309,272. The stock has a market capitalization of $35.61 billion, a price-to-earnings ratio of -676.80 and a beta of 0.63. The company’s 50 day simple moving average is $539.46 and its two-hundred day simple moving average is $465.81. argenx has a 12-month low of $327.73 and a 12-month high of $610.73.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million for the quarter, compared to the consensus estimate 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 last year, the firm posted ($1.25) EPS. On average, equities analysts expect that argenx will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARGX. Blue Trust Inc. lifted its holdings in argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after buying an additional 62 shares during the period. J.Safra Asset Management Corp boosted its position in argenx by 590.0% during the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. GAMMA Investing LLC grew its stake in argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after purchasing an additional 40 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in argenx in the second quarter worth about $76,000. Finally, Cromwell Holdings LLC boosted its holdings in shares of argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after buying an additional 66 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

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.