HC Wainwright Reiterates “Buy” Rating for argenx (NASDAQ:ARGX)

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $717.00 price objective on the stock, up from their prior price objective of $670.00. HC Wainwright’s target price suggests a potential upside of 6.69% from the stock’s current price.

ARGX has been the subject of several other research reports. Guggenheim increased their price target on shares of argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JMP Securities lifted their target price on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research note on Tuesday. William Blair upgraded argenx from a “market perform” rating to an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird cut argenx from an “outperform” rating to a “neutral” rating and raised their price target for the company from $515.00 to $650.00 in a report on Friday, November 1st. Finally, Wedbush reaffirmed an “outperform” rating and set a $655.00 price target on shares of argenx in a report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $658.39.

argenx Trading Up 0.2 %

argenx stock traded up $1.67 on Tuesday, reaching $672.07. 188,720 shares of the stock were exchanged, compared to its average volume of 253,380. The stock has a market cap of $40.57 billion, a PE ratio of -763.72 and a beta of 0.59. argenx has a twelve month low of $349.86 and a twelve month high of $678.21. The firm has a fifty day moving average price of $615.14 and a two-hundred day moving average price of $551.05.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned ($1.25) EPS. Equities analysts anticipate that argenx will post 2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new position in argenx during the second quarter worth approximately $76,000. Cromwell Holdings LLC grew its position in shares of argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after purchasing an additional 66 shares during the last quarter. GAMMA Investing LLC grew its position in shares of argenx by 47.5% in the third quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock valued at $94,000 after purchasing an additional 56 shares during the last quarter. Blue Trust Inc. grew its position in shares of argenx by 413.9% in the third quarter. Blue Trust Inc. now owns 370 shares of the company’s stock valued at $201,000 after purchasing an additional 298 shares during the last quarter. Finally, Keudell Morrison Wealth Management acquired a new position in shares of argenx in the third quarter valued at approximately $207,000. 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.