HC Wainwright Reiterates "Buy" Rating for argenx (NASDAQ:ARGX)

argenx (NASDAQ:ARGX - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $720.00 price objective on the stock. HC Wainwright's target price would suggest a potential upside of 25.12% from the company's current price.

Several other analysts have also recently commented on the company. JMP Securities set a $699.00 price target on argenx in a report on Wednesday, May 14th. Wells Fargo & Company boosted their target price on shares of argenx from $723.00 to $741.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. William Blair reiterated an "outperform" rating on shares of argenx in a report on Friday, February 28th. Baird R W raised shares of argenx from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Oppenheimer upped their target price on shares of argenx from $704.00 to $708.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, argenx currently has a consensus rating of "Buy" and a consensus price target of $709.18.

argenx Trading Down 1.4%

Shares of NASDAQ ARGX traded down $8.16 during midday trading on Tuesday, reaching $575.46. 225,388 shares of the company were exchanged, compared to its average volume of 323,357. The stock has a fifty day simple moving average of $586.09 and a 200 day simple moving average of $612.50. The stock has a market cap of $35.14 billion, a P/E ratio of -653.93 and a beta of 0.39. argenx has a 1 year low of $368.57 and a 1 year high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.26. The business 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%. As a group, analysts forecast that argenx will post 3.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ARGX. GeoWealth Management LLC raised its position in shares of argenx by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after buying an additional 18 shares during the period. Rakuten Securities Inc. raised its holdings in shares of argenx by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after purchasing an additional 22 shares during the period. Whipplewood Advisors LLC acquired a new position in shares of argenx in the 4th quarter valued at about $37,000. WPG Advisers LLC acquired a new position in shares of argenx in the 1st quarter valued at about $37,000. Finally, Global Retirement Partners LLC grew its holdings in shares of argenx by 369.2% during the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company's stock worth $38,000 after purchasing an additional 48 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

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.