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

argenx (NASDAQ:ARGX) was upgraded by investment analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research note issued on Monday.

Several other research firms have also commented on ARGX. Truist Financial reissued a “buy” rating and issued a $700.00 target price (up previously from $660.00) on shares of argenx in a report on Tuesday, January 14th. HC Wainwright raised their target price on argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Guggenheim upped their price target on argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft raised shares of argenx from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, Piper Sandler increased their target price on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Three investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $687.00.

argenx Trading Up 4.1 %

argenx stock opened at $604.96 on Monday. The firm has a market capitalization of $36.76 billion, a P/E ratio of -687.45 and a beta of 0.59. argenx has a twelve month low of $349.86 and a twelve month high of $678.21. The stock’s fifty day simple moving average is $638.20 and its 200-day simple moving average is $596.88.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.60. The company had revenue of $761.22 million for the quarter, compared to the consensus estimate of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. Sell-side analysts predict that argenx will post 3.13 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Large investors have recently added to or reduced their stakes in the business. GeoWealth Management LLC raised its stake in argenx by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after purchasing an additional 18 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of argenx by 5.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 380 shares of the company’s stock valued at $234,000 after buying an additional 20 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of argenx by 6.2% during the fourth quarter. SG Americas Securities LLC now owns 358 shares of the company’s stock valued at $220,000 after buying an additional 21 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of argenx by 38.2% during the fourth quarter. Farther Finance Advisors LLC now owns 76 shares of the company’s stock valued at $47,000 after buying an additional 21 shares during the period. Finally, Dynasty Wealth Management LLC boosted its position in argenx by 3.4% during the fourth quarter. Dynasty Wealth Management LLC now owns 677 shares of the company’s stock worth $416,000 after acquiring an additional 22 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

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.