argenex (NASDAQ:ARGX) Stock Price Up 4.8% – Still a Buy?

argenex SE (NASDAQ:ARGX)’s stock price rose 4.8% during trading on Friday . The stock traded as high as $879.09 and last traded at $883.0790. Approximately 263,762 shares changed hands during trading, a decline of 24% from the average daily volume of 348,502 shares. The stock had previously closed at $842.27.

Wall Street Analysts Forecast Growth

ARGX has been the topic of several analyst reports. HC Wainwright upped their price target on shares of argenex from $915.00 to $940.00 and gave the company a “buy” rating in a report on Friday, February 27th. Glj Research raised shares of argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Guggenheim boosted their target price on shares of argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company boosted their target price on shares of argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Robert W. Baird boosted their target price on shares of argenex from $858.00 to $867.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,019.50.

argenex Stock Up 5.0%

The stock has a market capitalization of $54.98 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 1.24 and a beta of 0.47. The stock’s 50 day moving average price is $791.02 and its 200-day moving average price is $812.87.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. The firm had revenue of $1.31 billion during the quarter. argenex had a return on equity of 33.28% and a net margin of 31.31%. As a group, sell-side analysts predict that argenex SE will post 26.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On argenex

Several hedge funds have recently modified their holdings of ARGX. M&T Bank Corp lifted its position in shares of argenex by 20,977.7% in the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock worth $654,772,000 after purchasing an additional 774,916 shares during the period. Sands Capital Management LLC lifted its position in shares of argenex by 2,046.6% in the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after purchasing an additional 340,245 shares during the period. Invesco Ltd. lifted its position in shares of argenex by 390.4% in the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock worth $350,178,000 after purchasing an additional 331,489 shares during the period. Wellington Management Group LLP lifted its position in shares of argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after purchasing an additional 324,653 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of argenex by 570.3% in the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock worth $216,961,000 after purchasing an additional 250,278 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.