argenx (NASDAQ:ARGX) Hits New 1-Year High – Here’s Why

argenx SE (NASDAQ:ARGX)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $621.53 and last traded at $621.53, with a volume of 143693 shares trading hands. The stock had previously closed at $616.55.

Analyst Upgrades and Downgrades

ARGX has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $617.00 price objective on shares of argenx in a research note on Wednesday, November 20th. Baird R W downgraded argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $439.00 to $715.00 in a research report on Tuesday, November 5th. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research report on Friday, November 1st. Finally, Raymond James reiterated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $630.42.

argenx Stock Up 0.2 %

The stock has a fifty day simple moving average of $565.73 and a 200-day simple moving average of $498.07. The company has a market capitalization of $37.28 billion, a P/E ratio of -700.63 and a beta of 0.61.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The firm had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same period in the previous year, the business earned ($1.25) earnings per share. Analysts predict that argenx SE will post 2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

Institutional investors have recently modified their holdings of the stock. Profund Advisors LLC lifted its stake in shares of argenx by 3.0% during the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock valued at $418,000 after acquiring an additional 28 shares during the period. Raymond James Trust N.A. raised its holdings in argenx by 6.0% during the 3rd quarter. Raymond James Trust N.A. now owns 495 shares of the company’s stock worth $268,000 after purchasing an additional 28 shares during the last quarter. Wealth Alliance lifted its position in argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after purchasing an additional 29 shares during the period. GAMMA Investing LLC boosted its stake in shares of argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after purchasing an additional 40 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of argenx by 8.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 528 shares of the company’s stock worth $286,000 after buying an additional 43 shares during the period. 60.32% of the stock is owned by institutional investors.

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.