argenx (NASDAQ:ARGX) Rating Increased to Sector Outperform at Scotiabank

argenx (NASDAQ:ARGX) was upgraded by research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Tuesday, FinViz reports. The brokerage currently has a $715.00 price target on the stock. Scotiabank’s price objective suggests a potential upside of 21.46% from the company’s previous close.

ARGX has been the topic of several other reports. Raymond James reiterated a “strong-buy” rating and issued a $605.00 target price on shares of argenx in a report on Thursday, October 10th. Citigroup increased their price objective on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research report on Monday. Oppenheimer raised their target price on shares of argenx from $560.00 to $646.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on shares of argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, argenx currently has a consensus rating of “Moderate Buy” and an average price target of $615.50.

argenx Stock Down 1.2 %

NASDAQ ARGX opened at $588.67 on Tuesday. The stock has a market cap of $35.20 billion, a P/E ratio of -668.94 and a beta of 0.61. The company’s 50-day simple moving average is $539.46 and its 200 day simple moving average is $467.19. argenx has a twelve month low of $327.73 and a twelve month high of $610.73.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million for 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 0.96%. During the same period in the prior year, the firm earned ($1.25) earnings per share. Research analysts anticipate that argenx will post -0.36 earnings per share for the current year.

Institutional Trading of argenx

A number of hedge funds have recently modified their holdings of the stock. Crossmark Global Holdings Inc. lifted its stake in shares of argenx by 100.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,462 shares of the company’s stock worth $5,130,000 after buying an additional 4,741 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in argenx by 8.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 109,490 shares of the company’s stock worth $59,352,000 after purchasing an additional 8,840 shares in the last quarter. Assetmark Inc. raised its stake in argenx by 8.3% in the 3rd quarter. Assetmark Inc. now owns 7,769 shares of the company’s stock worth $4,211,000 after purchasing an additional 598 shares in the last quarter. Keudell Morrison Wealth Management acquired a new stake in argenx in the 3rd quarter worth about $207,000. Finally, Nvwm LLC acquired a new stake in argenx in the 3rd quarter worth about $533,000. 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.