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

argenx SE (NASDAQ:ARGX) has been given an average recommendation of “Moderate Buy” by the twenty-three brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $630.42.

Several research analysts recently commented on the company. Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $439.00 to $715.00 in a research report on Tuesday, November 5th. Truist Financial lifted their target price on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Evercore ISI lifted their price objective on shares of argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st.

Institutional Investors Weigh In On argenx

Large investors have recently added to or reduced their stakes in the stock. Fiera Capital Corp boosted its position in argenx by 2.2% in the 2nd quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock valued at $71,212,000 after buying an additional 3,506 shares during the period. Cetera Advisors LLC purchased a new stake in shares of argenx in the 1st quarter worth approximately $419,000. Simplify Asset Management Inc. lifted its position in shares of argenx by 64.0% in the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after purchasing an additional 944 shares during the period. Perpetual Ltd purchased a new stake in shares of argenx in the 3rd quarter worth approximately $76,314,000. Finally, FMR LLC lifted its position in shares of argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after purchasing an additional 1,265,486 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Price Performance

NASDAQ:ARGX opened at $614.59 on Thursday. The company has a market cap of $37.10 billion, a price-to-earnings ratio of -698.40 and a beta of 0.61. argenx has a 1 year low of $327.73 and a 1 year high of $620.28. The stock’s 50 day simple moving average is $560.78 and its two-hundred day simple moving average is $492.76.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The company had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. During the same quarter in the prior year, the firm earned ($1.25) earnings per share. As a group, analysts anticipate that argenx will post 2.2 EPS 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.