argenx (NASDAQ:ARGX) Trading 2.7% Higher on Analyst Upgrade

argenx SE (NASDAQ:ARGXGet Free Report) shares traded up 2.7% during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $440.00 to $480.00. Truist Financial currently has a buy rating on the stock. argenx traded as high as $455.76 and last traded at $452.47. 58,359 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 307,929 shares. The stock had previously closed at $440.59.

A number of other research firms also recently issued reports on ARGX. JPMorgan Chase & Co. cut their price target on argenx from $560.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. Wedbush reissued an “outperform” rating and issued a $521.00 price target on shares of argenx in a research report on Thursday, April 18th. Morgan Stanley cut their price objective on shares of argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a report on Tuesday, May 28th. Stifel Nicolaus increased their target price on shares of argenx from $485.00 to $500.00 and gave the company a “buy” rating in a report on Monday. Finally, Robert W. Baird cut their price target on shares of argenx from $505.00 to $490.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $525.53.

View Our Latest Stock Report on argenx

Hedge Funds Weigh In On argenx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in argenx by 6.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,341 shares of the company’s stock worth $659,000 after buying an additional 84 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of argenx during the third quarter worth $433,000. Envestnet Asset Management Inc. boosted its holdings in shares of argenx by 144.5% in the third quarter. Envestnet Asset Management Inc. now owns 43,887 shares of the company’s stock worth $21,576,000 after acquiring an additional 25,940 shares during the period. Acadian Asset Management LLC grew its position in shares of argenx by 42.9% in the third quarter. Acadian Asset Management LLC now owns 806 shares of the company’s stock valued at $396,000 after purchasing an additional 242 shares in the last quarter. Finally, Mariner LLC raised its stake in shares of argenx by 36.1% during the 3rd quarter. Mariner LLC now owns 2,764 shares of the company’s stock valued at $1,359,000 after purchasing an additional 733 shares during the period. Institutional investors own 60.32% of the company’s stock.

argenx Stock Performance

The business has a 50 day moving average of $376.64 and a 200-day moving average of $386.49. The company has a market capitalization of $26.77 billion, a P/E ratio of -77.84 and a beta of 0.65.

argenx (NASDAQ:ARGXGet Free Report) last announced its quarterly 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 company had revenue of $412.51 million for the quarter, compared to the consensus estimate of $404.03 million. During the same quarter in the prior year, the company earned ($0.52) earnings per share. As a group, equities analysts forecast that argenx SE will post -2.75 EPS for the current fiscal year.

About argenx

(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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