argenx (NASDAQ:ARGX) Rating Increased to Outperform at William Blair

William Blair upgraded shares of argenx (NASDAQ:ARGX) from a market perform rating to an outperform rating in a report issued on Friday, Marketbeat Ratings reports. William Blair also issued estimates for argenx’s Q4 2024 earnings at $0.35 EPS.

ARGX has been the topic of several other reports. Guggenheim reissued a “buy” rating and issued a $585.00 price objective on shares of argenx in a research note on Thursday, September 26th. Oppenheimer raised shares of argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price target for the company in a report on Tuesday, July 23rd. HC Wainwright raised their price objective on shares of argenx from $504.00 to $533.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Citigroup boosted their target price on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird raised their price target on argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and an average target price of $596.78.

argenx Price Performance

Shares of NASDAQ:ARGX traded up $9.28 on Friday, reaching $595.58. The company’s stock had a trading volume of 468,633 shares, compared to its average volume of 309,272. argenx has a 52-week low of $327.73 and a 52-week high of $610.73. The stock has a market capitalization of $35.61 billion, a P/E ratio of -676.80 and a beta of 0.63. The stock’s 50-day moving average is $537.88 and its two-hundred day moving average is $464.29.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same period in the prior year, the business earned ($1.25) EPS. Equities analysts forecast that argenx will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of argenx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Profund Advisors LLC boosted its position in shares of argenx by 3.0% in the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock worth $418,000 after acquiring an additional 28 shares during the last quarter. Wealth Alliance increased its stake in argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock worth $270,000 after buying an additional 29 shares during the period. GAMMA Investing LLC boosted its position in argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after buying an additional 40 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of argenx by 16.5% during the first quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock valued at $119,000 after acquiring an additional 43 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of argenx by 3.1% during the second quarter. Sequoia Financial Advisors LLC now owns 1,713 shares of the company’s stock worth $737,000 after acquiring an additional 52 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, 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.