argenx’s (ARGX) Market Perform Rating Reaffirmed at William Blair

William Blair restated their market perform rating on shares of argenx (NASDAQ:ARGX) in a research report report published on Monday morning, RTT News reports.

Other research analysts have also recently issued reports about the stock. JMP Securities decreased their price objective on shares of argenx from $471.00 to $468.00 and set a market outperform rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. decreased their price objective on shares of argenx from $560.00 to $500.00 and set an overweight rating for the company in a report on Monday, May 13th. Morgan Stanley decreased their price objective on shares of argenx from $515.00 to $510.00 and set an overweight rating for the company in a report on Tuesday, May 28th. Piper Sandler reissued an overweight rating and set a $522.00 price objective on shares of argenx in a report on Monday. Finally, Robert W. Baird decreased their price objective on shares of argenx from $505.00 to $490.00 and set an outperform rating for the company in a report on Friday, March 1st. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $520.68.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $378.30 on Monday. The firm’s 50 day moving average price is $375.08 and its 200-day moving average price is $388.61. The company has a market cap of $22.48 billion, a PE ratio of -66.84 and a beta of 0.65. argenx has a 52-week low of $327.73 and a 52-week high of $550.76.

argenx (NASDAQ:ARGX) last issued its earnings results on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.33). The firm had revenue of $412.51 million during the quarter, compared to the consensus estimate of $404.03 million. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. During the same quarter in the prior year, the company posted ($0.52) EPS. On average, analysts forecast that argenx will post -2.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

Hedge funds have recently modified their holdings of the company. Sectoral Asset Management Inc. boosted its position in shares of argenx by 717.2% in the fourth quarter. Sectoral Asset Management Inc. now owns 10,027 shares of the company’s stock worth $3,815,000 after purchasing an additional 8,800 shares during the period. Boxer Capital LLC boosted its position in shares of argenx by 88.2% during the fourth quarter. Boxer Capital LLC now owns 160,000 shares of the company’s stock worth $60,869,000 after acquiring an additional 75,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of argenx by 9.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 47,583 shares of the company’s stock worth $18,102,000 after acquiring an additional 3,967 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of argenx by 30.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock worth $5,505,000 after acquiring an additional 3,374 shares during the last quarter. Finally, Altitude Crest Partners Inc. bought a new position in shares of argenx during the fourth quarter worth $11,223,000. 60.32% of the stock is currently owned by 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.