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

Truist Financial reaffirmed their buy rating on shares of argenx (NASDAQ:ARGX) in a report published on Tuesday,Benzinga reports. The brokerage currently has a $700.00 price objective on the stock, up from their prior price objective of $660.00.

Other equities research analysts have also recently issued research reports about the company. Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. 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 note on Friday, November 1st. Robert W. Baird downgraded shares of 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. Wolfe Research upgraded shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective for the company in a report on Tuesday, November 12th. Finally, Piper Sandler raised their target price on argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. 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. Based on data from MarketBeat.com, argenx has an average rating of “Moderate Buy” and a consensus price target of $658.39.

argenx Stock Performance

argenx stock opened at $659.81 on Tuesday. argenx has a twelve month low of $349.86 and a twelve month high of $678.21. The firm has a market cap of $39.83 billion, a PE ratio of -749.78 and a beta of 0.59. The firm’s 50 day moving average price is $619.30 and its two-hundred day moving average price is $554.23.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. During the same period last year, the company earned ($1.25) earnings per share. Equities analysts anticipate that argenx will post 2.17 EPS for the current fiscal year.

Institutional Trading of argenx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp lifted its stake in shares of argenx by 15.3% in the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock valued at $4,788,000 after buying an additional 1,170 shares during the period. FMR LLC lifted its position 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 acquiring an additional 1,265,486 shares during the period. Simplify Asset Management Inc. grew its holdings in shares of argenx by 64.0% during the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after purchasing an additional 944 shares in the last quarter. Perpetual Ltd bought a new stake in shares of argenx during the third quarter valued at approximately $76,314,000. Finally, Logos Global Management LP bought a new stake in shares of argenx during the second quarter valued at approximately $58,055,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.