argenex (NASDAQ:ARGX) Hits New 1-Year High - Still a Buy?

Key Points

• argenx shares hit a new 52-week high, reaching $977.84 after closing at $851.29, with the stock’s market capitalization at approximately $61.86 billion.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $1,056.89, despite one downgrade and some target-price reductions.
• The company beat quarterly expectations, reporting $7.32 in earnings per share and $1.54 billion in revenue versus estimates of $5.86 and $1.45 billion, respectively; institutional investors own 60.32% of outstanding shares.

Shares of argenex SE (NASDAQ:ARGX - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $977.84 and last traded at $975.9230, with a volume of 113227 shares changing hands. The stock had previously closed at $851.29.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ARGX shares. Weiss Ratings downgraded argenex from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. Citizens Jmp decreased their target price on argenex from $944.00 to $932.00 and set a "market outperform" rating for the company in a report on Friday, July 24th. Citigroup increased their target price on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Morgan Stanley raised their price target on shares of argenex from $1,170.00 to $1,180.00 and gave the company an "overweight" rating in a report on Wednesday, June 24th. Finally, Wedbush lifted their price target on shares of argenex from $1,000.00 to $1,050.00 and gave the company an "outperform" rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,056.89.

argenex Price Performance

The firm has a market capitalization of $61.86 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 1.05 and a beta of 0.46. The business's 50-day moving average price is $881.73 and its 200 day moving average price is $821.12.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating analysts' consensus estimates of $5.86 by $1.46. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. As a group, sell-side analysts expect that argenex SE will post 28.77 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in argenex by 22.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,846 shares of the company's stock valued at $9,121,000 after purchasing an additional 2,018 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of argenex by 65.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company's stock valued at $2,713,000 after buying an additional 1,280 shares in the last quarter. M&T Bank Corp lifted its stake in argenex by 34.8% during the fourth quarter. M&T Bank Corp now owns 4,980 shares of the company's stock worth $4,188,000 after purchasing an additional 1,286 shares during the period. UBS Group AG boosted its stake in argenex by 12.3% in the 4th quarter. UBS Group AG now owns 60,384 shares of the company's stock valued at $50,780,000 after buying an additional 6,591 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of argenex by 2.7% in the 1st quarter. Bessemer Group Inc. now owns 64,251 shares of the company's stock valued at $46,920,000 after purchasing an additional 1,714 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Company Profile

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.

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