argenex (NASDAQ:ARGX) Reaches New 12-Month High - What's Next?

Key Points

• argenex (NASDAQ:ARGX) reached a new 12-month high of $760.20 during trading, an increase from its previous close of $750.78.
• Analysts have set a consensus rating of "Buy" for argenex, with an average price target of $772.84 after several analysts upgraded their ratings.
• The company reported earnings of $3.74 EPS for the last quarter, exceeding analyst expectations and contributing to a strong net margin of 40.98%.

Shares of argenex SE (NASDAQ:ARGX - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $759.14 and last traded at $760.20, with a volume of 92615 shares changing hands. The stock had previously closed at $750.78.

Analysts Set New Price Targets

ARGX has been the topic of several research analyst reports. HC Wainwright lifted their price target on argenex from $720.00 to $774.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Jefferies Financial Group set a $818.00 price target on argenex and gave the company a "buy" rating in a research report on Tuesday, August 26th. Morgan Stanley lifted their price target on argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft cut argenex from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Wall Street Zen upgraded argenex from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $772.84.

argenex Trading Down 0.9%

The firm has a market capitalization of $46.29 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 0.81 and a beta of 0.41. The stock has a fifty day moving average of $649.73 and a 200-day moving average of $607.01.

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

Institutional Trading of argenex

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its position in shares of argenex by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after buying an additional 639 shares during the period. Sowell Financial Services LLC acquired a new stake in argenex during the first quarter valued at $332,000. Cetera Investment Advisers boosted its position in argenex by 33.1% during the first quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock valued at $3,250,000 after purchasing an additional 1,364 shares during the last quarter. Quantbot Technologies LP boosted its position in argenex by 4,533.3% during the first quarter. Quantbot Technologies LP now owns 139 shares of the company's stock valued at $82,000 after purchasing an additional 136 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in argenex by 0.9% during the first quarter. Royal Bank of Canada now owns 38,306 shares of the company's stock valued at $22,673,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

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.