Wedbush Reaffirms Outperform Rating for argenx (ARGX)

Wedbush reaffirmed their outperform rating on shares of argenx (NASDAQ:ARGX) in a report issued on Monday morning, Marketbeat Ratings reports. Wedbush currently has a $125.00 price objective on the stock, down from their previous price objective of $130.00. Wedbush also issued estimates for argenx’s FY2021 earnings at ($7.33) EPS and FY2022 earnings at $3.21 EPS.

A number of other analysts also recently weighed in on ARGX. Stifel Nicolaus set a $139.00 price target on shares of argenx and gave the stock a buy rating in a research report on Thursday, October 25th. Evercore ISI initiated coverage on shares of argenx in a report on Monday, October 15th. They issued an outperform rating and a $110.00 price objective for the company. SunTrust Banks lifted their price objective on shares of argenx to $132.00 and gave the stock an in-line rating in a report on Tuesday, September 18th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $154.00 price objective on shares of argenx in a report on Monday, September 17th. Finally, JMP Securities lifted their price objective on shares of argenx to $150.00 and gave the stock an outperform rating in a report on Monday, September 17th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $131.00.

Shares of ARGX stock traded down $0.17 during mid-day trading on Monday, reaching $99.73. 419 shares of the company were exchanged, compared to its average volume of 283,662. argenx has a fifty-two week low of $22.21 and a fifty-two week high of $103.02. The company has a market capitalization of $3.23 billion, a P/E ratio of -71.43 and a beta of 1.60.

A number of institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp bought a new stake in shares of argenx during the 1st quarter valued at $896,000. Dimensional Fund Advisors LP purchased a new position in shares of argenx during the 1st quarter valued at $498,000. Atria Investments LLC purchased a new position in shares of argenx during the 2nd quarter valued at $213,000. Fred Alger Management Inc. lifted its stake in shares of argenx by 50.0% during the 2nd quarter. Fred Alger Management Inc. now owns 3,000 shares of the company’s stock valued at $249,000 after buying an additional 1,000 shares in the last quarter. Finally, TD Asset Management Inc. lifted its stake in shares of argenx by 8.2% during the 2nd quarter. TD Asset Management Inc. now owns 38,832 shares of the company’s stock valued at $3,218,000 after buying an additional 2,952 shares in the last quarter. 56.10% of the stock is owned by hedge funds and other institutional investors.

About argenx

argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.

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Analyst Recommendations for argenx (NASDAQ:ARGX)

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