argenx (NASDAQ:ARGX) Hits New 12-Month High – What’s Next?

Shares of argenx SE (NASDAQ:ARGX) reached a new 52-week high on Monday . The company 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore ISI raised their price target on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Baird R W lowered 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 upped their price target for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Barclays raised shares of argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $605.00 target price on shares of argenx in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $630.42.

argenx Price Performance

The firm’s 50 day moving average is $565.73 and its two-hundred day moving average is $498.07. The firm 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 data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same quarter in the prior year, the company earned ($1.25) earnings per share. Analysts anticipate that argenx SE will post 2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

A number of institutional investors have recently made changes to their positions in the company. J.Safra Asset Management Corp boosted its position in shares of argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after acquiring an additional 59 shares during the period. Blue Trust Inc. raised its stake in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares in the last quarter. GAMMA Investing LLC grew its position in shares of argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after purchasing an additional 40 shares in the last quarter. Cromwell Holdings LLC increased its holdings in shares of argenx by 73.3% during the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after purchasing an additional 66 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of argenx in the second quarter valued at approximately $76,000. Institutional investors own 60.32% of the company’s stock.

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.