Wedbush Reaffirms Outperform Rating for argenx (NASDAQ:ARGX)

Wedbush reissued their outperform rating on shares of argenx (NASDAQ:ARGX) in a research note published on Wednesday morning, Benzinga reports. They currently have a $519.00 target price on the stock. Wedbush also issued estimates for argenx’s Q2 2024 earnings at ($1.67) EPS, Q3 2024 earnings at ($1.58) EPS, Q4 2024 earnings at ($1.34) EPS, FY2024 earnings at ($5.63) EPS, Q1 2025 earnings at ($0.63) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at ($0.83) EPS, FY2026 earnings at $9.92 EPS and FY2027 earnings at $28.75 EPS.

A number of other research firms have also recently issued reports on ARGX. JMP Securities lowered their price objective on shares of argenx from $471.00 to $468.00 and set a market outperform rating for the company in a research report on Friday, May 10th. Robert W. Baird lowered their price objective on shares of argenx from $505.00 to $490.00 and set an outperform rating for the company in a research report on Friday, March 1st. HC Wainwright reiterated a buy rating and set a $448.00 price objective on shares of argenx in a research report on Monday, June 24th. Truist Financial upped their price objective on shares of argenx from $440.00 to $480.00 and gave the stock a buy rating in a research report on Tuesday. Finally, Piper Sandler upped their price objective on shares of argenx from $522.00 to $535.00 and gave the stock an overweight rating in a research report on Monday, June 24th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $525.42.

argenx Trading Down 3.3 %

Shares of argenx stock opened at $430.04 on Wednesday. The company has a 50 day moving average of $382.97 and a 200-day moving average of $387.13. argenx has a 1-year low of $327.73 and a 1-year high of $550.76. The company has a market cap of $25.56 billion, a PE ratio of -75.98 and a beta of 0.65.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. The firm had revenue of $412.51 million for the quarter, compared to the consensus estimate of $404.03 million. During the same period last year, the company posted ($0.52) EPS. Research analysts forecast that argenx will post -2.88 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Several large investors have recently modified their holdings of ARGX. PNC Financial Services Group Inc. increased its stake in shares of argenx by 6.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,341 shares of the company’s stock worth $659,000 after purchasing an additional 84 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of argenx in the third quarter worth about $433,000. Acadian Asset Management LLC increased its stake in shares of argenx by 42.9% in the third quarter. Acadian Asset Management LLC now owns 806 shares of the company’s stock worth $396,000 after purchasing an additional 242 shares in the last quarter. Mariner LLC increased its stake in shares of argenx by 36.1% in the third quarter. Mariner LLC now owns 2,764 shares of the company’s stock worth $1,359,000 after purchasing an additional 733 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of argenx by 9.6% in the third quarter. Stifel Financial Corp now owns 7,730 shares of the company’s stock worth $3,800,000 after purchasing an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

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.