argenex (NASDAQ:ARGX) Sets New 12-Month High – Here’s Why

argenex SE (NASDAQ:ARGX)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $893.52 and last traded at $889.64, with a volume of 279312 shares trading hands. The stock had previously closed at $869.83.

Analyst Upgrades and Downgrades

ARGX has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of argenex from $830.00 to $925.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Truist Financial upped their target price on argenex from $700.00 to $918.00 and gave the stock a “buy” rating in a report on Monday, September 15th. TD Cowen lifted their price target on argenex from $800.00 to $1,146.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wells Fargo & Company upped their price objective on argenex from $741.00 to $756.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus set a $882.00 price objective on shares of argenex in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, argenex presently has a consensus rating of “Moderate Buy” and a consensus price target of $879.28.

argenex Stock Up 1.3%

The stock has a market capitalization of $55.49 billion, a price-to-earnings ratio of 38.63, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The company has a 50 day simple moving average of $789.68 and a 200-day simple moving average of $667.22.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.03. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. As a group, sell-side analysts anticipate that argenex SE will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC raised its holdings in shares of argenex by 3.4% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 396 shares of the company’s stock worth $292,000 after acquiring an additional 13 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of argenex by 6.8% in the third quarter. GAMMA Investing LLC now owns 251 shares of the company’s stock valued at $185,000 after purchasing an additional 16 shares in the last quarter. Portside Wealth Group LLC boosted its position in shares of argenex by 2.8% during the third quarter. Portside Wealth Group LLC now owns 583 shares of the company’s stock valued at $430,000 after buying an additional 16 shares during the last quarter. Cromwell Holdings LLC grew its holdings in argenex by 10.0% during the third quarter. Cromwell Holdings LLC now owns 187 shares of the company’s stock worth $138,000 after buying an additional 17 shares in the last quarter. Finally, Wealth Alliance LLC raised its position in argenex by 2.7% in the 3rd quarter. Wealth Alliance LLC now owns 839 shares of the company’s stock valued at $619,000 after buying an additional 22 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

About argenex

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.