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 note released on Tuesday morning, Marketbeat reports. Oppenheimer currently has $546.00 price target on the stock.

ARGX has been the subject of a number of other reports. Piper Sandler raised their price objective on shares of argenx from $522.00 to $535.00 and gave the stock an overweight rating in a report on Monday, June 24th. JMP Securities reduced their price objective on shares of argenx from $471.00 to $468.00 and set a market outperform rating for the company in a report on Friday, May 10th. Bank of America reaffirmed a buy rating and set a $607.00 price objective (up from $535.00) on shares of argenx in a report on Monday, June 24th. Stifel Nicolaus raised their price objective on shares of argenx from $485.00 to $500.00 and gave the stock a buy rating in a report on Monday, June 24th. Finally, Truist Financial raised their price objective on shares of argenx from $480.00 to $540.00 and gave the stock a buy rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $539.05.

argenx Price Performance

NASDAQ ARGX opened at $494.46 on Tuesday. The firm has a market capitalization of $29.39 billion, a price-to-earnings ratio of -87.36 and a beta of 0.64. The company’s fifty day moving average is $413.06 and its two-hundred day moving average is $394.35. argenx has a 52-week low of $327.73 and a 52-week high of $532.59.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. The company had revenue of $489.43 million during the quarter, compared to the consensus estimate of $436.66 million. argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. During the same period last year, the firm earned ($1.69) EPS. As a group, sell-side analysts expect that argenx will post -2.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

A number of large investors have recently modified their holdings of the stock. Lindbrook Capital LLC lifted its position in shares of argenx by 23.1% during the first quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock worth $78,000 after purchasing an additional 37 shares in the last quarter. Wahed Invest LLC lifted its position in shares of argenx by 9.6% during the fourth quarter. Wahed Invest LLC now owns 457 shares of the company’s stock worth $174,000 after purchasing an additional 40 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of argenx by 51.3% during the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after purchasing an additional 40 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of argenx by 2.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,530 shares of the company’s stock worth $582,000 after purchasing an additional 41 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in argenx by 3.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,428 shares of the company’s stock valued at $543,000 after buying an additional 43 shares during the period. 60.32% of the stock is currently 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.