argenex (NASDAQ:ARGX) Hits New 12-Month High - Here's What Happened

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%.

argenex SE (NASDAQ:ARGX - Get Free Report) hit a new 52-week high during trading on Monday . The company 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

A number of equities research analysts have recently commented on the stock. Guggenheim increased their target price on shares of argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Baird R W upgraded shares of argenex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company lifted their price target on shares of argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. JMP Securities set a $699.00 price target on shares of argenex in a research report on Wednesday, May 14th. Finally, Wall Street Zen raised shares of argenex from a "hold" rating to a "buy" rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. Based on data from MarketBeat, argenex presently has a consensus rating of "Buy" and an average target price of $772.84.

argenex Trading Up 1.3%

The company has a market capitalization of $46.54 billion, a price-to-earnings ratio of 39.00, a PEG ratio of 0.80 and a beta of 0.41. The firm's 50 day simple moving average is $627.89 and its 200-day simple moving average is $602.06.

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 company had revenue of $866.79 million for 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, sell-side analysts forecast that argenex SE will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Europe London LLP purchased a new position in argenex in the 4th quarter valued at about $5,839,000. Ameriprise Financial Inc. lifted its holdings in argenex by 10.0% in the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock valued at $4,313,000 after purchasing an additional 639 shares in the last quarter. Sowell Financial Services LLC purchased a new position in argenex in the 1st quarter valued at about $332,000. Cetera Investment Advisers increased its stake in shares of argenex by 33.1% during the 1st quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock valued at $3,250,000 after acquiring an additional 1,364 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of argenex by 4,533.3% during the 1st quarter. Quantbot Technologies LP now owns 139 shares of the company's stock valued at $82,000 after acquiring an additional 136 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other 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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