argenx (NASDAQ:ARGX) Hits New 1-Year High – Time to Buy?

argenx SE (NASDAQ:ARGX)’s stock price reached a new 52-week high on Monday . The stock traded as high as $633.03 and last traded at $632.56, with a volume of 32619 shares traded. The stock had previously closed at $607.21.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ARGX shares. Guggenheim boosted their target price on shares of argenx from $585.00 to $665.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $439.00 to $715.00 in a research note 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. HC Wainwright reissued a “buy” rating and issued a $617.00 price objective on shares of argenx in a research note on Wednesday, November 20th. Finally, Evercore ISI lifted their target price on argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, argenx currently has an average rating of “Moderate Buy” and a consensus target price of $635.11.

argenx Stock Performance

The stock has a market cap of $38.53 billion, a PE ratio of -725.38 and a beta of 0.59. The firm has a fifty day moving average price of $583.23 and a 200 day moving average price of $517.38.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping 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 business had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. During the same quarter last year, the company earned ($1.25) earnings per share. On average, equities research analysts forecast that argenx SE will post 2.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ARGX. FMR LLC increased its position in shares of argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares during the period. Janus Henderson Group PLC raised its stake in shares of argenx by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock worth $1,343,797,000 after purchasing an additional 10,975 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of argenx by 3.6% during the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock worth $265,535,000 after purchasing an additional 21,189 shares during the period. Wellington Management Group LLP boosted its position in argenx by 13.0% in the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock valued at $261,470,000 after buying an additional 55,617 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in argenx by 15.2% in the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after buying an additional 50,477 shares during the period. Institutional investors and hedge funds 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.