argenx (NASDAQ:ARGX) Given Buy Rating at Truist Financial

argenx (NASDAQ:ARGX)‘s stock had its “buy” rating reissued by stock analysts at Truist Financial in a note issued to investors on Tuesday,Benzinga reports. They currently have a $700.00 target price on the stock, up from their previous target price of $660.00. Truist Financial’s price objective indicates a potential upside of 3.73% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. Citigroup upped their target price on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Oppenheimer reaffirmed an “outperform” rating and set a $675.00 price target (up previously from $646.00) on shares of argenx in a report on Thursday, November 21st. Raymond James reissued a “strong-buy” rating and set a $605.00 target price on shares of argenx in a report on Thursday, October 10th. Wells Fargo & Company lifted their target price on argenx from $639.00 to $723.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Finally, Evercore ISI boosted their price target on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Three 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. According to MarketBeat.com, argenx currently has a consensus rating of “Moderate Buy” and an average price target of $652.83.

argenx Stock Performance

Shares of ARGX stock traded up $4.40 on Tuesday, hitting $674.80. The stock had a trading volume of 123,268 shares, compared to its average volume of 242,162. argenx has a 52-week low of $349.86 and a 52-week high of $678.21. The firm has a market capitalization of $40.74 billion, a price-to-earnings ratio of -766.82 and a beta of 0.59. The stock’s 50 day moving average is $613.51 and its 200-day moving average is $549.46.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.10 by $1.29. The company 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 last year, the firm posted ($1.25) EPS. Equities analysts expect that argenx will post 2.2 earnings per share for the current year.

Institutional Investors Weigh In On argenx

A number of hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after buying an additional 1,265,486 shares during the period. Janus Henderson Group PLC boosted its position in argenx by 0.4% during the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock worth $1,343,797,000 after purchasing an additional 10,975 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of argenx by 3.6% in the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after acquiring an additional 21,189 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of argenx by 13.0% in the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock valued at $261,470,000 after purchasing an additional 55,617 shares during the last quarter. Finally, Sei Investments Co. increased its stake in argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after acquiring an additional 50,477 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

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.