argenex (NASDAQ:ARGX) Sets New 1-Year High - Time to Buy?

Key Points

• argenex's stock reached a new 52-week high at $804.83 during trading, closing at $805.31 with significant volume.
• Analysts have issued a consensus Buy rating for argenex, with price targets ranging from $756.00 to $1,070.00.
• The company reported earnings per share of $3.74, exceeding estimates, along with a revenue of $866.79 million for its last quarter.

argenex SE (NASDAQ:ARGX - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $804.83 and last traded at $805.31, with a volume of 195423 shares trading hands. The stock had previously closed at $797.35.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of argenex in a research note on Monday, August 25th. They issued an "outperform" rating and a $850.00 price target on the stock. Guggenheim reaffirmed a "buy" rating and issued a $1,070.00 target price on shares of argenex in a research report on Thursday, September 18th. Wells Fargo & Company upped their target price on argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Piper Sandler upped 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. Finally, Bank of America upped their price objective on argenex from $880.00 to $887.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, argenex has a consensus rating of "Buy" and an average price target of $802.90.

argenex Stock Up 0.2%

The stock has a market capitalization of $48.90 billion, a price-to-earnings ratio of 40.97, a P/E/G ratio of 0.86 and a beta of 0.46. The business's 50 day simple moving average is $710.80 and its 200-day simple moving average is $623.56.

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, topping analysts' consensus estimates of $2.84 by $0.90. The firm had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. On average, analysts expect that argenex SE will post 3.13 earnings per share for the current year.

Institutional Investors Weigh In On argenex

A number of large investors have recently modified their holdings of ARGX. Sanders Morris Harris LLC acquired a new stake in argenex in the third quarter valued at about $1,350,000. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 16 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of 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 purchasing an additional 79 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of 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 purchasing an additional 874 shares in the last quarter. Finally, Orion Porfolio Solutions LLC boosted its stake in shares of argenex by 17.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 10,294 shares of the company's stock valued at $5,674,000 after purchasing an additional 1,558 shares in 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.

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