argenx (NASDAQ:ARGX) Receives Strong-Buy Rating from Raymond James

by · The Markets Daily

Raymond James restated their strong-buy rating on shares of argenx (NASDAQ:ARGX – Free Report) in a research note released on Thursday, MarketBeat.com reports. The firm currently has a $605.00 price target on the stock.

Other analysts also recently issued research reports about the company. Guggenheim restated a buy rating and issued a $585.00 price target on shares of argenx in a research note on Thursday, September 26th. Barclays upgraded shares of argenx from an equal weight rating to an overweight rating in a research note on Tuesday, August 6th. Evercore ISI lifted their price target on shares of argenx from $478.00 to $533.00 and gave the company an outperform rating in a report on Friday, July 12th. Wells Fargo & Company lifted their target price on argenx from $543.00 to $547.00 and gave the company an overweight rating in a research note on Friday, July 26th. Finally, William Blair restated a market perform rating on shares of argenx in a research report on Monday, June 17th. Four 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. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $548.00.

Read Our Latest Research Report on ARGX

argenx Price Performance

Shares of ARGX stock opened at $536.70 on Thursday. The stock has a market capitalization of $31.90 billion, a price-to-earnings ratio of -94.82 and a beta of 0.63. The company’s fifty day simple moving average is $527.60 and its two-hundred day simple moving average is $448.91. argenx has a 1 year low of $327.73 and a 1 year high of $554.74.

argenx (NASDAQ:ARGX – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. The company had revenue of $489.43 million during the quarter, compared to the consensus estimate of $436.66 million. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same period in the previous year, the firm posted ($1.69) EPS. Equities research analysts anticipate that argenx will post -0.37 EPS for the current year.

Institutional Trading of argenx

Several institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of argenx by 49.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after purchasing an additional 1,830,651 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of argenx by 24.8% during the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock worth $872,690,000 after acquiring an additional 439,889 shares during the period. Clearbridge Investments LLC grew its holdings in argenx by 36.5% in the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock valued at $234,766,000 after buying an additional 159,480 shares in the last quarter. Perpetual Ltd acquired a new position in shares of argenx in the third quarter valued at about $76,314,000. Finally, Logos Global Management LP bought a new position in shares of argenx during the second quarter worth approximately $58,055,000. Institutional investors own 60.32% of the company’s stock.

argenx Company Profile

(Get Free Report)

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.

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