argenex (NASDAQ:ARGX) Hits New 1-Year High - What's Next?

Key Points

• argenex SE shares reached a new 52-week high of $702.24, closing at $692.87 with a trading volume of 147,759 shares.
• Analysts expressed strong confidence in argenex, with two recommending a Strong Buy and others raising price targets, predicting an average target of $757.88.
• The company reported earnings per share of $3.74, surpassing estimates, and achieving a revenue of $866.79 million for the last quarter.

argenex SE (NASDAQ:ARGX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $702.24 and last traded at $692.87, with a volume of 147759 shares. The stock had previously closed at $660.00.

Wall Street Analyst Weigh In

ARGX has been the subject of several recent analyst reports. Baird R W raised shares of argenex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. HC Wainwright lifted their target price on shares of argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Morgan Stanley lifted their target price on shares of argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wedbush reaffirmed an "outperform" rating and issued a $800.00 target price on shares of argenex in a report on Monday. Finally, Guggenheim lifted their target price on shares of argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $757.88.

argenex Price Performance

The firm's 50-day moving average is $595.18 and its 200-day moving average is $597.16. The company has a market capitalization of $41.78 billion, a P/E ratio of 35.01, a price-to-earnings-growth ratio of 0.76 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.90. The company had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. As a group, analysts forecast that argenex SE will post 3.13 EPS for the current fiscal year.

Institutional Trading of argenex

Several large investors have recently added to or reduced their stakes in ARGX. GeoWealth Management LLC boosted its position in shares of argenex by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after purchasing an additional 18 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of argenex by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock worth $15,332,000 after purchasing an additional 4,445 shares during the period. Stifel Financial Corp boosted its position in shares of argenex by 6.8% in the fourth quarter. Stifel Financial Corp now owns 9,433 shares of the company's stock worth $5,801,000 after purchasing an additional 601 shares during the period. MGO One Seven LLC bought a new position in shares of argenex in the fourth quarter worth approximately $323,000. Finally, Voya Investment Management LLC lifted its holdings in shares of argenex by 47.8% in the fourth quarter. Voya Investment Management LLC now owns 14,170 shares of the company's stock worth $8,715,000 after buying an additional 4,585 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

argenex 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.

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