argenex (NASDAQ:ARGX) Hits New 12-Month High - Time to Buy?

Key Points

• Shares of argenex SE reached a new 52-week high, trading at $716.62 during mid-day on Tuesday, with significant recent trading volume of 353,562 shares.
• Analyst ratings are largely positive, with 20 analysts giving a "Buy" rating and a consensus price target of $766.50, as JPMorgan Chase increased their price objective to $830.00.
• The company reported strong earnings, with a net revenue of $866.79 million beating expectations significantly, and a return on equity of 21.06%.

Shares of argenex SE (NASDAQ:ARGX - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $716.62 and last traded at $709.60, with a volume of 353562 shares trading hands. The stock had previously closed at $704.07.

Analyst Ratings Changes

ARGX has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Robert W. Baird upgraded argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price objective on the stock in a report on Tuesday, May 13th. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Royal Bank Of Canada initiated coverage on argenex in a report on Monday, August 25th. They issued an "outperform" rating and a $850.00 price objective on the stock. Finally, Piper Sandler boosted their price objective on argenex from $750.00 to $820.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company's stock. According to data from MarketBeat, argenex currently has an average rating of "Buy" and a consensus price target of $766.50.

argenex Trading Down 0.3%

The firm has a market capitalization of $43.44 billion, a PE ratio of 36.47, a P/E/G ratio of 0.81 and a beta of 0.41. The company has a fifty day moving average price of $614.60 and a two-hundred day moving average price of $599.63.

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

Institutional Trading of argenex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Greenleaf Trust raised its stake in argenex by 3.5% during the 1st quarter. Greenleaf Trust now owns 624 shares of the company's stock valued at $369,000 after acquiring an additional 21 shares during the last quarter. Rakuten Securities Inc. raised its stake in argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after acquiring an additional 22 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in argenex by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock valued at $1,083,000 after acquiring an additional 24 shares during the last quarter. Main Management ETF Advisors LLC raised its stake in argenex by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 1,466 shares of the company's stock valued at $808,000 after acquiring an additional 24 shares during the last quarter. Finally, M&T Bank Corp raised its stake in argenex by 0.6% during the 1st quarter. M&T Bank Corp now owns 4,296 shares of the company's stock valued at $2,542,000 after acquiring an additional 27 shares during the last quarter. 60.32% of the stock is 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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