argenex (NASDAQ:ARGX) Reaches New 52-Week High After Analyst Upgrade

Key Points

• argenex's stock reached a new 52-week high of $810.16 after Wedbush upgraded their price target from $800 to $880, maintaining an outperform rating.
• Multiple analysts have raised their price targets for argenex, with a consensus target price of $817.53 and an overall rating of "Buy" from the majority.
• The company reported $3.74 earnings per share for the last quarter, exceeding expectations and demonstrating strong revenue performance of $866.79 million.

argenex SE (NASDAQ:ARGX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday after Wedbush raised their price target on the stock from $800.00 to $880.00. Wedbush currently has an outperform rating on the stock. argenex traded as high as $810.16 and last traded at $799.56, with a volume of 172627 shares. The stock had previously closed at $796.92.

ARGX has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of argenex from $775.00 to $830.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Royal Bank Of Canada began coverage on shares of argenex in a research report on Monday, August 25th. They set an "outperform" rating and a $850.00 price objective for the company. Stifel Nicolaus set a $882.00 price objective on shares of argenex in a research report on Thursday, September 18th. Guggenheim restated a "buy" rating and set a $1,070.00 price objective on shares of argenex in a research report on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of argenex from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $817.53.

Institutional Trading of argenex

Several institutional investors and hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC raised its position in argenex by 36.3% in the 3rd quarter. Voya Investment Management LLC now owns 21,610 shares of the company's stock valued at $15,939,000 after purchasing an additional 5,755 shares during the last quarter. Sanders Morris Harris LLC purchased a new stake in argenex in the 3rd quarter valued at $1,350,000. GAMMA Investing LLC increased its stake in argenex by 6.8% in the 3rd quarter. GAMMA Investing LLC now owns 251 shares of the company's stock valued at $185,000 after buying an additional 16 shares during the period. Corient Private Wealth LLC increased its stake in argenex by 5.5% in the 2nd quarter. Corient Private Wealth LLC now owns 1,511 shares of the company's stock valued at $833,000 after buying an additional 79 shares during the period. Finally, Valeo Financial Advisors LLC increased its stake in argenex by 203.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,303 shares of the company's stock valued at $718,000 after buying an additional 874 shares during the period. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Trading Up 0.3%

The company has a market capitalization of $48.93 billion, a price-to-earnings ratio of 41.00, a PEG ratio of 0.86 and a beta of 0.46. The firm's 50 day simple moving average is $722.14 and its 200-day simple moving average is $629.47.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations 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.

About argenex

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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