argenx (NASDAQ:ARGX) Downgraded by Robert W. Baird to Neutral

Robert W. Baird downgraded shares of argenx (NASDAQ:ARGX) from an outperform rating to a neutral rating in a research note released on Friday morning, MarketBeat Ratings reports. They currently have $650.00 target price on the stock, up from their previous target price of $515.00.

ARGX has been the topic of several other research reports. Guggenheim reiterated a “buy” rating and set a $585.00 price objective on shares of argenx in a research report on Thursday, September 26th. Raymond James reaffirmed a “strong-buy” rating and set a $605.00 price target on shares of argenx in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. HC Wainwright lifted their price objective on argenx from $504.00 to $533.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.44.

argenx Trading Down 1.2 %

ARGX stock opened at $588.67 on Friday. argenx has a 1 year low of $327.73 and a 1 year high of $610.73. The stock has a 50-day moving average price of $539.46 and a two-hundred day moving average price of $467.19. The stock has a market cap of $35.20 billion, a PE ratio of -668.94 and a beta of 0.61.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.10 by $1.29. argenx had a negative return on equity of 0.96% and a negative net margin of 2.11%. The company had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. During the same quarter in the prior year, the firm posted ($1.25) EPS. On average, analysts forecast that argenx will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

A number of hedge funds have recently added to or reduced their stakes in the stock. Profund Advisors LLC lifted its holdings in shares of argenx by 3.0% in the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock valued at $418,000 after purchasing an additional 28 shares in the last quarter. Wealth Alliance lifted its stake in argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after acquiring an additional 29 shares in the last quarter. GAMMA Investing LLC boosted its holdings in argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after acquiring an additional 40 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of argenx by 16.5% in the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock worth $119,000 after acquiring an additional 43 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of argenx by 3.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,713 shares of the company’s stock worth $737,000 after acquiring an additional 52 shares in the last quarter. 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.