argenx (NASDAQ:ARGX) Upgraded to "Outperform" at Robert W. Baird

Robert W. Baird upgraded shares of argenx (NASDAQ:ARGX - Free Report) from a neutral rating to an outperform rating in a research note published on Tuesday, Marketbeat Ratings reports. Robert W. Baird currently has $680.00 price target on the stock.

ARGX has been the topic of several other reports. Guggenheim cut their price objective on shares of argenx from $1,100.00 to $1,065.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Wells Fargo & Company upped their price target on argenx from $723.00 to $741.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Citigroup upped their price target on argenx from $796.00 to $803.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Oppenheimer upped their price target on argenx from $704.00 to $708.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $720.00 price target on shares of argenx in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $698.11.

argenx Stock Up 0.7%

ARGX stock traded up $3.88 during trading on Tuesday, hitting $565.63. 433,461 shares of the company's stock traded hands, compared to its average volume of 324,080. The firm has a market capitalization of $34.54 billion, a P/E ratio of -642.76 and a beta of 0.57. The business has a fifty day simple moving average of $591.63 and a two-hundred day simple moving average of $612.92. argenx has a 1 year low of $356.38 and a 1 year high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.26. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. On average, equities research analysts predict that argenx will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

Large investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in argenx by 17.2% in the fourth quarter. FMR LLC now owns 5,618,222 shares of the company's stock valued at $3,455,207,000 after purchasing an additional 824,750 shares during the last quarter. Millennium Management LLC boosted its holdings in argenx by 316.9% in the first quarter. Millennium Management LLC now owns 268,604 shares of the company's stock valued at $158,977,000 after purchasing an additional 204,180 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in argenx in the fourth quarter valued at $91,013,000. Allspring Global Investments Holdings LLC boosted its holdings in argenx by 38,152.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company's stock valued at $89,391,000 after purchasing an additional 143,834 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in argenx by 53,684.9% in the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock valued at $802,200,000 after purchasing an additional 135,286 shares during the last quarter. 60.32% of the stock is 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.