argenex (NASDAQ:ARGX) Hits New 1-Year High - What's Next?

Key Points

• argenex SE (NASDAQ:ARGX) shares hit a new 52-week high of $696.21, closing at $674.90 with a trading volume of 464,778 shares.
• Analysts have issued positive ratings, with Oppenheimer raising its price target to $708.00 and Wedbush setting a target of $715.00, contributing to a consensus rating of "Buy."
• In its latest quarterly report, argenex reported earnings of $3.74 per share, significantly exceeding analysts' estimates of $2.84, along with a revenue of $866.79 million against expectations of $776.82 million.

argenex SE (NASDAQ:ARGX - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $696.21 and last traded at $674.90, with a volume of 464778 shares changing hands. The stock had previously closed at $690.32.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ARGX shares. JMP Securities set a $699.00 price objective on argenex in a report on Wednesday, May 14th. Guggenheim increased their price objective on argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a report on Friday, August 1st. Oppenheimer increased their price objective on argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a report on Friday, May 9th. HC Wainwright increased their price objective on argenex from $720.00 to $774.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Wedbush reaffirmed an "outperform" rating and set a $715.00 price target on shares of argenex in a report on Monday, July 21st. Eighteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, argenex has a consensus rating of "Buy" and an average target price of $746.81.

argenex Price Performance

The stock has a 50-day simple moving average of $580.54 and a 200-day simple moving average of $598.03. The stock has a market cap of $40.50 billion, a P/E ratio of 33.94, a PEG ratio of 0.77 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%. The firm had revenue of $866.79 million for the quarter, compared to analyst estimates of $776.82 million. As a group, sell-side analysts forecast that argenex SE will post 3.13 earnings per share for the current year.

Institutional Trading of argenex

A number of hedge funds have recently made changes to their positions in ARGX. Point72 Europe London LLP acquired a new position in shares of argenex in the fourth quarter worth approximately $5,839,000. Ameriprise Financial Inc. lifted its stake in shares of argenex by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after acquiring an additional 639 shares during the period. Sowell Financial Services LLC acquired a new position in shares of argenex in the first quarter worth approximately $332,000. Dimensional Fund Advisors LP increased its holdings in argenex by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock worth $15,332,000 after purchasing an additional 4,445 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in argenex by 33.1% in the first quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock worth $3,250,000 after purchasing an additional 1,364 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

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.