argenex (NASDAQ:ARGX) Sets New 1-Year High - Still a Buy?

Key Points

• Argenex SE's stock reached a new 52-week high of $850.35, up from a previous close of $837.28, with a trading volume of 452,503 shares.
• Analysts have mostly rated argenex positively, with a consensus target price of $817.53 and recent upgrades to "buy" and "strong-buy" from various research firms.
• The company posted earnings of $3.74 per share, exceeding expectations, with 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 trading on Monday . The company traded as high as $849.99 and last traded at $850.35, with a volume of 452503 shares traded. The stock had previously closed at $837.28.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus set a $882.00 price target on argenex in a research note on Thursday, September 18th. Wall Street Zen raised argenex from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Zacks Research raised argenex from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 22nd. Jefferies Financial Group set a $818.00 price objective on argenex and gave the company a "buy" rating in a research note on Tuesday, August 26th. Finally, Wedbush increased their price objective on argenex from $800.00 to $880.00 and gave the company an "outperform" rating in a research note on Monday, October 13th. 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 data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $817.53.

argenex Stock Performance

The stock has a market capitalization of $52.57 billion, a P/E ratio of 43.76, a P/E/G ratio of 0.91 and a beta of 0.46. The stock has a 50 day moving average of $734.69 and a 200 day moving average of $636.30.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.90. The company 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%. On average, research analysts anticipate that argenex SE will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

Several hedge funds have recently bought and sold shares of ARGX. Goldman Sachs Group Inc. raised its stake in shares of argenex by 14.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 168,765 shares of the company's stock worth $99,886,000 after purchasing an additional 21,805 shares in the last quarter. Amundi raised its stake in shares of argenex by 8.1% during the 1st quarter. Amundi now owns 6,351 shares of the company's stock worth $3,747,000 after purchasing an additional 478 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of argenex by 5.2% during the 1st quarter. Voya Investment Management LLC now owns 14,905 shares of the company's stock worth $8,822,000 after purchasing an additional 735 shares in the last quarter. Wealth Management Associates Inc. purchased a new stake in shares of argenex during the 1st quarter worth about $268,000. Finally, Royal Bank of Canada raised its stake in shares of argenex by 0.9% during the 1st quarter. Royal Bank of Canada now owns 38,306 shares of the company's stock worth $22,673,000 after purchasing an additional 353 shares in 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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