argenx (NASDAQ:ARGX) Shares Gap Up After Analyst Upgrade

argenx SE (NASDAQ:ARGX)’s stock price gapped up before the market opened on Tuesday after Oppenheimer upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $461.01, but opened at $470.72. Oppenheimer now has a $546.00 price target on the stock. argenx shares last traded at $460.82, with a volume of 96,830 shares traded.

A number of other research analysts also recently weighed in on the company. William Blair reissued a “market perform” rating on shares of argenx in a research note on Monday, June 17th. Morgan Stanley cut their price target on argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 28th. Wells Fargo & Company increased their price target on argenx from $478.00 to $542.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Stifel Nicolaus increased their price target on argenx from $485.00 to $500.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Bank of America reissued a “buy” rating and issued a $607.00 price target (up previously from $535.00) on shares of argenx in a research note on Monday, June 24th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, argenx has an average rating of “Moderate Buy” and a consensus price target of $537.10.

Hedge Funds Weigh In On argenx

A number of large investors have recently added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in argenx by 11.4% during the 2nd quarter. Raymond James & Associates now owns 55,111 shares of the company’s stock worth $23,700,000 after purchasing an additional 5,633 shares in the last quarter. Values First Advisors Inc. increased its holdings in argenx by 8.2% during the 2nd quarter. Values First Advisors Inc. now owns 1,830 shares of the company’s stock worth $787,000 after purchasing an additional 139 shares in the last quarter. Blue Trust Inc. increased its holdings in argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares in the last quarter. J.Safra Asset Management Corp increased its holdings in argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after purchasing an additional 59 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of argenx by 11.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 1,453 shares of the company’s stock valued at $625,000 after acquiring an additional 153 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

argenx Stock Performance

The company has a market cap of $27.57 billion, a P/E ratio of -81.45 and a beta of 0.64. The company has a fifty day moving average price of $406.78 and a two-hundred day moving average price of $392.67.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.33). The company had revenue of $412.51 million during the quarter, compared to the consensus estimate of $404.03 million. argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. During the same quarter in the previous year, the business earned ($0.52) EPS. Research analysts anticipate that argenx SE will post -2.93 EPS for the current year.

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.