argenx (NASDAQ:ARGX) Sets New 52-Week High – Time to Buy?

Shares of argenx SE (NASDAQ:ARGX) hit a new 52-week high on Monday . The stock traded as high as $646.35 and last traded at $645.95, with a volume of 175943 shares trading hands. The stock had previously closed at $621.29.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARGX. JMP Securities raised their price target on shares of argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Piper Sandler raised their target price on shares of argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a report on Monday, November 4th. HC Wainwright restated a “buy” rating and set a $617.00 price objective on shares of argenx in a report on Wednesday, November 20th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $675.00 price objective (up previously from $646.00) on shares of argenx in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $639.78.

argenx Stock Performance

The company’s fifty day moving average is $605.35 and its two-hundred day moving average is $541.51. The firm has a market cap of $38.96 billion, a price-to-earnings ratio of -733.38 and a beta of 0.59.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the previous year, the firm posted ($1.25) earnings per share. As a group, analysts forecast that argenx SE will post 2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new position in shares of argenx during the second quarter worth $76,000. Cromwell Holdings LLC increased its stake in argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after buying an additional 66 shares during the period. GAMMA Investing LLC lifted its holdings in argenx by 47.5% in the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after buying an additional 56 shares in the last quarter. Blue Trust Inc. boosted its position in argenx by 413.9% in the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company’s stock valued at $201,000 after buying an additional 298 shares during the last quarter. Finally, Gallacher Capital Management LLC acquired a new stake in shares of argenx during the second quarter valued at about $202,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

About argenx

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.