argenx SE (NASDAQ:ARGX) Receives Average Rating of “Moderate Buy” from Brokerages

argenx SE (NASDAQ:ARGX) has been given a consensus recommendation of “Moderate Buy” by the twenty-two ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $639.78.

A number of equities research analysts have recently weighed in on the stock. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st. Citigroup lifted their price objective on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Truist Financial increased their target price on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, Robert W. Baird downgraded argenx from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $515.00 to $650.00 in a report on Friday, November 1st.

Institutional Trading of argenx

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of argenx during the 2nd quarter valued at about $76,000. Cromwell Holdings LLC grew its stake in shares of argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after acquiring an additional 66 shares during the period. GAMMA Investing LLC raised its holdings in shares of argenx by 47.5% during the third quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock valued at $94,000 after purchasing an additional 56 shares during the last quarter. Finally, Raymond James Trust N.A. bought a new position in argenx during the second quarter valued at approximately $201,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenx Stock Performance

NASDAQ ARGX opened at $623.82 on Monday. The stock has a market cap of $37.66 billion, a P/E ratio of -708.89 and a beta of 0.59. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $644.97. The stock has a 50 day simple moving average of $591.24 and a two-hundred day simple moving average of $523.45.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The company had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter last year, the firm posted ($1.25) earnings per share. Sell-side analysts predict that argenx will post 2.2 earnings per share for the current year.

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.