Oppenheimer Reaffirms Outperform Rating for argenx (NASDAQ:ARGX)

argenx (NASDAQ:ARGX)‘s stock had its “outperform” rating restated by Oppenheimer in a research report issued on Thursday,Benzinga reports. They currently have a $675.00 target price on the stock, up from their prior target price of $646.00. Oppenheimer’s target price indicates a potential upside of 14.94% from the stock’s previous close.

Several other equities analysts have also weighed in on ARGX. JPMorgan Chase & Co. raised their price objective on shares of argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company upped their target price on argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $617.00 price objective on shares of argenx in a research report on Wednesday. Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $439.00 to $715.00 in a research note on Tuesday, November 5th. Finally, JMP Securities boosted their target price on shares of argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $630.42.

argenx Trading Down 0.8 %

Shares of argenx stock traded down $4.58 during trading hours on Thursday, reaching $587.24. The stock had a trading volume of 45,588 shares, compared to its average volume of 308,430. argenx has a 1 year low of $327.73 and a 1 year high of $611.22. The firm has a market capitalization of $35.12 billion, a price-to-earnings ratio of -670.64 and a beta of 0.61. The firm has a 50 day simple moving average of $555.08 and a two-hundred day simple moving average of $485.94.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping 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 analysts’ expectations of $543.29 million. During the same period in the prior year, the company earned ($1.25) earnings per share. Sell-side analysts forecast that argenx will post 2.2 EPS for the current year.

Institutional Trading of argenx

A number of large investors have recently bought and sold shares of ARGX. M&T Bank Corp boosted its stake in argenx by 7.2% in the 3rd quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock worth $2,335,000 after purchasing an additional 289 shares during the period. MML Investors Services LLC increased its stake in argenx by 16.9% in the 3rd quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock worth $4,715,000 after purchasing an additional 1,255 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in argenx by 2.7% in the third quarter. Orion Portfolio Solutions LLC now owns 8,800 shares of the company’s stock valued at $4,768,000 after acquiring an additional 234 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of argenx by 50.7% during the 3rd quarter. XTX Topco Ltd now owns 5,030 shares of the company’s stock worth $2,727,000 after acquiring an additional 1,693 shares during the period. Finally, Wellington Management Group LLP raised its holdings in argenx by 13.0% in the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after purchasing an additional 55,617 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

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.