argenx (NASDAQ:ARGX) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of argenx (NASDAQ:ARGX) from a market perform rating to an outperform rating in a research note released on Monday morning, Marketbeat reports.

Several other research analysts have also recently issued reports on the company. Guggenheim increased their price target on argenx from $775.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. William Blair reiterated an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Evercore ISI boosted their price target on shares of argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. HC Wainwright upped their price target on shares of argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Oppenheimer raised their price objective on shares of argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $687.00.

argenx Stock Up 1.4 %

ARGX stock opened at $619.97 on Monday. The firm’s 50-day simple moving average is $636.24 and its 200 day simple moving average is $598.37. The stock has a market cap of $37.67 billion, a PE ratio of -704.51 and a beta of 0.59. argenx has a fifty-two week low of $349.86 and a fifty-two week high of $678.21.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $761.22 million for the quarter, compared to analysts’ expectations of $678.52 million. Equities analysts forecast that argenx will post 3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GeoWealth Management LLC lifted its stake in argenx by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after buying an additional 18 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of argenx by 5.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 380 shares of the company’s stock valued at $234,000 after acquiring an additional 20 shares during the period. SG Americas Securities LLC lifted its position in shares of argenx by 6.2% in the 4th quarter. SG Americas Securities LLC now owns 358 shares of the company’s stock valued at $220,000 after acquiring an additional 21 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in argenx by 38.2% in the 4th quarter. Farther Finance Advisors LLC now owns 76 shares of the company’s stock worth $47,000 after purchasing an additional 21 shares during the period. Finally, Dynasty Wealth Management LLC boosted its stake in argenx by 3.4% in the 4th quarter. Dynasty Wealth Management LLC now owns 677 shares of the company’s stock worth $416,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds 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.