argenx (NASDAQ:ARGX) Stock Rating Reaffirmed by Guggenheim

Guggenheim reissued their buy rating on shares of argenx (NASDAQ:ARGX) in a research report released on Thursday, Benzinga reports. They currently have a $585.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. Bank of America reaffirmed a buy rating and issued a $607.00 target price (up previously from $535.00) on shares of argenx in a report on Monday, June 24th. HC Wainwright increased their target price on argenx from $504.00 to $533.00 and gave the company a buy rating in a report on Friday, July 26th. William Blair reaffirmed a market perform rating on shares of argenx in a report on Monday, June 17th. Barclays upgraded argenx from an equal weight rating to an overweight rating in a report on Tuesday, August 6th. Finally, Evercore ISI boosted their target price on argenx from $478.00 to $533.00 and gave the stock an outperform rating in a research note on Friday, July 12th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, argenx has a consensus rating of Moderate Buy and an average price target of $547.74.

argenx Price Performance

Shares of ARGX opened at $536.11 on Thursday. The firm has a 50-day simple moving average of $519.04 and a two-hundred day simple moving average of $438.18. The stock has a market cap of $31.86 billion, a PE ratio of -94.72 and a beta of 0.62. argenx has a 1-year low of $327.73 and a 1-year high of $554.74.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of ($0.89) by $1.34. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The business had revenue of $489.43 million during the quarter, compared to analyst estimates of $436.66 million. During the same quarter last year, the firm posted ($1.69) earnings per share. As a group, sell-side analysts expect that argenx will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Gilbert & Cook Inc. raised its position in argenx by 8.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,991 shares of the company’s stock worth $757,000 after buying an additional 147 shares during the last quarter. US Bancorp DE raised its holdings in argenx by 11.6% during the fourth quarter. US Bancorp DE now owns 3,271 shares of the company’s stock worth $1,244,000 after purchasing an additional 340 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in argenx by 4.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,505 shares of the company’s stock valued at $3,236,000 after purchasing an additional 373 shares during the period. Hsbc Holdings PLC boosted its holdings in argenx by 66.4% in the 4th quarter. Hsbc Holdings PLC now owns 15,698 shares of the company’s stock valued at $5,972,000 after purchasing an additional 6,262 shares in the last quarter. Finally, TD Asset Management Inc increased its position in argenx by 10.6% during the 4th quarter. TD Asset Management Inc now owns 193,885 shares of the company’s stock worth $73,760,000 after purchasing an additional 18,514 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.