argenex (NASDAQ:ARGX) Reaches New 12-Month High Following Analyst Upgrade

argenex SE (NASDAQ:ARGX) hit a new 52-week high during trading on Tuesday after Wedbush raised their price target on the stock from $800.00 to $880.00. Wedbush currently has an outperform rating on the stock. argenex traded as high as $810.16 and last traded at $799.56, with a volume of 172627 shares trading hands. The stock had previously closed at $796.92.

ARGX has been the topic of several other research reports. 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. Truist Financial upped their price objective on argenex from $700.00 to $918.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Royal Bank Of Canada started coverage on argenex in a research note on Monday, August 25th. They issued an “outperform” rating and a $850.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on argenex from $775.00 to $830.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Finally, Zacks Research upgraded argenex from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $817.53.

Institutional Investors Weigh In On argenex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rakuten Securities Inc. increased its holdings in shares of argenex by 56.4% in the first quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock worth $36,000 after purchasing an additional 22 shares during the period. WPG Advisers LLC bought a new position in shares of argenex in the first quarter worth $37,000. Golden State Wealth Management LLC bought a new position in shares of argenex in the first quarter worth $44,000. Brooklyn Investment Group grew its position in argenex by 102.7% in the first quarter. Brooklyn Investment Group now owns 75 shares of the company’s stock worth $44,000 after acquiring an additional 38 shares in the last quarter. Finally, MAI Capital Management grew its position in argenex by 866.7% in the second quarter. MAI Capital Management now owns 87 shares of the company’s stock worth $48,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

argenex Stock Up 1.7%

The firm’s 50-day moving average is $724.90 and its 200-day moving average is $630.74. The company has a market capitalization of $49.75 billion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 0.86 and a beta of 0.46.

argenex (NASDAQ:ARGX) last announced its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.90. argenex had a net margin of 40.98% and a return on equity of 21.06%. The company had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. As a group, equities research analysts predict that argenex SE will post 3.13 EPS for the current year.

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.