argenx (NASDAQ:ARGX) Lifted to Outperform at Oppenheimer

Oppenheimer upgraded shares of argenx (NASDAQ:ARGX) from a market perform rating to an outperform rating in a research report released on Tuesday, MarketBeat reports. They currently have $546.00 price target on the stock.

ARGX has been the subject of a number of other reports. Scotiabank lifted their price target on shares of argenx from $402.00 to $408.00 and gave the company a sector perform rating in a research report on Tuesday, March 26th. Bank of America reiterated a buy rating and set a $607.00 price target (up from $535.00) on shares of argenx in a research report on Monday, June 24th. Morgan Stanley reduced their price target on shares of argenx from $515.00 to $510.00 and set an overweight rating for the company in a research report on Tuesday, May 28th. Stifel Nicolaus lifted their price target on shares of argenx from $485.00 to $500.00 and gave the company a buy rating in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. cut their price objective on argenx from $560.00 to $500.00 and set an overweight rating for the company in a research report on Monday, May 13th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, argenx presently has a consensus rating of Moderate Buy and a consensus target price of $539.05.

argenx Trading Up 1.7 %

Shares of ARGX opened at $494.46 on Tuesday. argenx has a twelve month low of $327.73 and a twelve month high of $532.59. The stock’s 50 day moving average is $413.06 and its two-hundred day moving average is $394.35. The firm has a market capitalization of $29.39 billion, a PE ratio of -87.36 and a beta of 0.64.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $1.34. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. The company had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. During the same quarter in the previous year, the company earned ($1.69) EPS. On average, sell-side analysts predict that argenx will post -2.88 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARGX. Blue Trust Inc. grew its stake in shares of argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after buying an additional 62 shares during the period. J.Safra Asset Management Corp grew its stake in shares of argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after buying an additional 59 shares during the period. GAMMA Investing LLC grew its stake in shares of argenx by 420.0% during the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 63 shares during the period. Mather Group LLC. purchased a new stake in shares of argenx during the 1st quarter valued at $38,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of argenx during the 4th quarter valued at $60,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.