argenx (NASDAQ:ARGX) Upgraded to “Outperform” at Oppenheimer

Oppenheimer upgraded shares of argenx (NASDAQ:ARGX) from a market perform rating to an outperform rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $546.00 price objective on the stock.

A number of other research analysts have also recently commented on the stock. Wells Fargo & Company upped their price target on shares of argenx from $478.00 to $542.00 and gave the stock an overweight rating in a report on Monday, June 24th. Evercore ISI upped their price target on shares of argenx from $478.00 to $533.00 and gave the stock an outperform rating in a report on Friday, July 12th. Piper Sandler upped their price target on shares of argenx from $522.00 to $535.00 and gave the stock an overweight rating in a report on Monday, June 24th. HC Wainwright upped their price target on shares of argenx from $490.00 to $504.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Finally, Stifel Nicolaus increased their target price on shares of argenx from $485.00 to $500.00 and gave the stock a buy rating in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $535.37.

argenx Trading Up 4.7 %

Shares of ARGX opened at $486.33 on Tuesday. argenx has a twelve month low of $327.73 and a twelve month high of $532.59. The company has a market cap of $28.90 billion, a P/E ratio of -85.92 and a beta of 0.64. The company’s fifty day simple moving average is $413.06 and its 200-day simple moving average is $394.35.

argenx (NASDAQ:ARGX) last announced its earnings results 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). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The firm had revenue of $412.51 million during the quarter, compared to analysts’ expectations of $404.03 million. During the same period in the prior year, the company posted ($0.52) EPS. Analysts predict that argenx will post -2.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its position 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 buying an additional 62 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in shares of argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares during the period. GAMMA Investing LLC lifted its stake in shares of argenx by 420.0% in the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 63 shares during the period. Mather Group LLC. acquired a new position in shares of argenx in the 1st quarter valued at $38,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of argenx in the 4th quarter valued at $60,000. 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.