argenx (NASDAQ:ARGX) Given "Outperform" Rating at Wedbush

argenx (NASDAQ:ARGX - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Wedbush in a research note issued on Wednesday,Benzinga reports. They presently have a $715.00 price target on the stock. Wedbush's price objective would indicate a potential upside of 21.74% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer upped their price target on shares of argenx from $704.00 to $708.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. William Blair reiterated an "outperform" rating on shares of argenx in a research note on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and set a $720.00 target price on shares of argenx in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised argenx from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Finally, JMP Securities set a $699.00 price target on shares of argenx in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $709.18.

argenx Stock Performance

Shares of ARGX stock traded up $12.37 on Wednesday, reaching $587.33. The stock had a trading volume of 113,506 shares, compared to its average volume of 323,170. argenx has a 1 year low of $376.59 and a 1 year high of $678.21. The stock has a market cap of $35.86 billion, a P/E ratio of -667.42 and a beta of 0.39. The company has a 50 day simple moving average of $586.20 and a 200 day simple moving average of $611.99.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake 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 in the last quarter. Capital World Investors raised its position in shares of argenx by 5.1% in the 4th quarter. Capital World Investors now owns 1,786,936 shares of the company's stock valued at $1,099,002,000 after buying an additional 86,687 shares in the last quarter. RTW Investments LP increased its stake in shares of argenx by 2.9% in the 4th quarter. RTW Investments LP now owns 673,497 shares of the company's stock valued at $414,201,000 after purchasing an additional 19,067 shares during the last quarter. Clearbridge Investments LLC boosted its position in argenx by 6.8% in the fourth quarter. Clearbridge Investments LLC now owns 629,828 shares of the company's stock valued at $387,344,000 after buying an additional 40,330 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of argenx by 33.2% in the first quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company's stock valued at $162,585,000 after buying an additional 68,498 shares during the period. Institutional investors and hedge funds own 60.32% of the company's stock.

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.