argenx SE (NASDAQ:ARGX) Receives Average Rating of “Moderate Buy” from Analysts

argenx SE (NASDAQ:ARGX) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $635.42.

Several research firms recently issued reports on ARGX. Scotiabank raised shares of argenx from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Piper Sandler increased their target price on shares of argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Citigroup increased 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. Finally, Truist Financial increased their target price on shares of argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st.

Institutional Trading of argenx

A number of hedge funds have recently bought and sold shares of the company. FMR LLC boosted its position in argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after acquiring an additional 1,265,486 shares during the last quarter. Janus Henderson Group PLC boosted its position in argenx by 0.4% during the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock worth $1,343,797,000 after acquiring an additional 10,975 shares during the last quarter. Clearbridge Investments LLC boosted its position in argenx by 3.6% during the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock worth $265,535,000 after acquiring an additional 21,189 shares during the last quarter. Wellington Management Group LLP boosted its position in argenx by 13.0% during the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after acquiring an additional 55,617 shares during the last quarter. Finally, Sei Investments Co. boosted its position in argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after acquiring an additional 50,477 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenx Stock Up 3.0 %

NASDAQ ARGX opened at $624.96 on Thursday. The stock has a market capitalization of $37.73 billion, a P/E ratio of -710.18 and a beta of 0.59. argenx has a 52-week low of $327.73 and a 52-week high of $626.00. The firm has a 50-day moving average price of $570.76 and a 200 day moving average price of $502.32.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same period in the prior year, the company posted ($1.25) earnings per share. On average, equities research analysts expect that argenx will post 2.2 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.