Stifel Nicolaus assumed coverage on shares of argenx (NASDAQ:ARGX – Get Rating) in a research report issued on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.
Several other brokerages have also recently weighed in on ARGX. SVB Leerink reaffirmed an “outperform” rating on shares of argenx in a report on Tuesday, May 24th. JPMorgan Chase & Co. raised their target price on shares of argenx from €350.00 ($372.34) to €370.00 ($393.62) and gave the company an “overweight” rating in a report on Friday, May 6th. HC Wainwright reiterated a “buy” rating and issued a $400.00 price target on shares of argenx in a research note on Friday, March 4th. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “hold” rating to a “buy” rating in a research note on Friday, May 13th. Finally, Morgan Stanley upgraded shares of argenx from an “equal weight” rating to an “overweight” rating and set a $375.00 price target on the stock in a research note on Tuesday, May 3rd. One equities research analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $362.94.
Shares of ARGX traded up $9.12 during mid-day trading on Monday, hitting $373.47. 227,382 shares of the company’s stock were exchanged, compared to its average volume of 277,542. The company has a market cap of $20.03 billion, a price-to-earnings ratio of -32.36 and a beta of 1.11. argenx has a fifty-two week low of $249.50 and a fifty-two week high of $376.78. The stock’s 50-day moving average is $318.15 and its 200-day moving average is $307.67.
argenx (NASDAQ:ARGX – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($4.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($5.08) by $0.72. argenx had a negative net margin of 147.47% and a negative return on equity of 32.54%. During the same quarter in the previous year, the firm earned ($0.81) EPS. As a group, research analysts predict that argenx will post -19.16 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in ARGX. Jennison Associates LLC raised its stake in shares of argenx by 23.4% during the 1st quarter. Jennison Associates LLC now owns 1,017,415 shares of the company’s stock worth $320,801,000 after buying an additional 192,844 shares during the last quarter. Goldman Sachs Group Inc. increased its position in argenx by 62.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 334,169 shares of the company’s stock worth $105,366,000 after purchasing an additional 128,759 shares in the last quarter. Point72 Asset Management L.P. increased its position in argenx by 40.6% during the 4th quarter. Point72 Asset Management L.P. now owns 403,650 shares of the company’s stock worth $141,354,000 after purchasing an additional 116,603 shares in the last quarter. Artal Group S.A. increased its position in argenx by 17.5% during the 1st quarter. Artal Group S.A. now owns 587,500 shares of the company’s stock worth $185,245,000 after purchasing an additional 87,500 shares in the last quarter. Finally, Eventide Asset Management LLC increased its position in argenx by 23.9% during the 4th quarter. Eventide Asset Management LLC now owns 412,500 shares of the company’s stock worth $144,453,000 after purchasing an additional 79,500 shares in the last quarter. 58.76% of the stock is owned by institutional investors and hedge funds.
About argenx (Get Rating)
argenx SE, a biotechnology company, focuses on developing various therapies for the treatment of autoimmune diseases in the United States, the Netherlands, Belgium, Japan, Switzerland, Germany and France. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, and chronic inflammatory demyelinating polyneuropathy in Phase III clinical trials; bullous pemphigoid and idiopathic inflammatory myopathy in Phase II/III clinical trials; and ENHANZE SC in Pre-clinical study.