Shares of argenx SE (NASDAQ:ARGX) have earned an average recommendation of “Hold” from the eighteen research firms that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $341.92.
A number of research firms recently issued reports on ARGX. Barclays reiterated an “equal weight” rating on shares of argenx in a research report on Thursday, September 2nd. Morgan Stanley cut argenx from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $332.00 to $351.00 in a research note on Tuesday, September 7th. Wedbush boosted their price objective on argenx from $344.00 to $362.00 and gave the stock an “outperform” rating in a research report on Thursday, July 22nd. Deutsche Bank Aktiengesellschaft began coverage on argenx in a research report on Friday, July 23rd. They issued a “hold” rating and a $250.00 target price for the company. Finally, Piper Sandler lowered their price objective on argenx from $309.00 to $250.00 and set a “neutral” rating for the company in a research note on Monday, June 7th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sowell Financial Services LLC lifted its holdings in argenx by 458.8% in the first quarter. Sowell Financial Services LLC now owns 95 shares of the company’s stock valued at $25,000 after buying an additional 78 shares during the period. Bank of Montreal Can lifted its stake in shares of argenx by 75.3% in the 1st quarter. Bank of Montreal Can now owns 156 shares of the company’s stock valued at $44,000 after purchasing an additional 67 shares during the period. The PNC Financial Services Group Inc. boosted its position in shares of argenx by 69.6% during the 1st quarter. The PNC Financial Services Group Inc. now owns 212 shares of the company’s stock valued at $59,000 after purchasing an additional 87 shares in the last quarter. JPMorgan Chase & Co. grew its stake in argenx by 4,583.3% during the fourth quarter. JPMorgan Chase & Co. now owns 281 shares of the company’s stock worth $82,000 after purchasing an additional 275 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in argenx by 38.6% in the first quarter. Quadrant Capital Group LLC now owns 309 shares of the company’s stock worth $85,000 after purchasing an additional 86 shares in the last quarter. 55.59% of the stock is owned by institutional investors and hedge funds.
argenx (NASDAQ:ARGX) last released its earnings results on Thursday, July 29th. The company reported $1.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.38) by $5.36. The firm had revenue of $320.06 million for the quarter, compared to analysts’ expectations of $44.46 million. argenx had a negative return on equity of 21.19% and a negative net margin of 63.22%. As a group, equities analysts forecast that argenx will post -7.82 EPS for the current year.
argenx SE is a clinical-stage biotechnology company, which engages in the development of antibody-based therapies for the treatment of autoimmune diseases and cancer. Its products include ARGX-113 for the treatment of autoimmune disease myasthenia gravis and ARGX-110 for the treatment of hematological cancer acute myeloid leukemia.
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