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

Key Points

• argenx shares hit a new 52-week high, reaching $1,069 and last trading near $1,057.92, up from a prior close of $1,028.51.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $1,158.61; UBS and Wells Fargo recently raised their targets to $1,400 and $1,415, respectively.
• The company exceeded quarterly expectations, reporting $7.32 in EPS versus $5.86 expected and $1.54 billion in revenue versus $1.45 billion forecast. Institutional investors own approximately 60.32% of the stock.

argenex SE (NASDAQ:ARGX - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $1,069.00 and last traded at $1,057.9150, with a volume of 32387 shares traded. The stock had previously closed at $1,028.51.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ARGX shares. Wall Street Zen upgraded argenex from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird increased their target price on shares of argenex from $867.00 to $932.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Wells Fargo & Company raised their target price on shares of argenex from $1,350.00 to $1,415.00 and gave the company an "overweight" rating in a research report on Wednesday, August 26th. Weiss Ratings lowered shares of argenex from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. Finally, UBS Group raised shares of argenex from a "neutral" rating to a "buy" rating and upped their price target for the stock from $960.00 to $1,400.00 in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, argenex currently has a consensus rating of "Moderate Buy" and an average price target of $1,158.61.

argenex Stock Up 1.5%

The firm has a market capitalization of $65.29 billion, a PE ratio of 40.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. The company's 50-day simple moving average is $916.19 and its 200 day simple moving average is $836.94.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.86 by $1.46. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. On average, sell-side analysts forecast that argenex SE will post 29.04 earnings per share for the current fiscal year.

Institutional Trading of argenex

Institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its position in argenex by 3.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company's stock valued at $1,847,592,000 after buying an additional 83,568 shares in the last quarter. Wellington Management Group LLP boosted its holdings in argenex by 80.1% in the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company's stock worth $538,408,000 after acquiring an additional 324,653 shares in the last quarter. Morgan Stanley boosted its holdings in argenex by 19.2% in the fourth quarter. Morgan Stanley now owns 518,852 shares of the company's stock worth $436,331,000 after acquiring an additional 83,746 shares in the last quarter. Invesco Ltd. grew its stake in shares of argenex by 390.4% during the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company's stock worth $350,178,000 after acquiring an additional 331,489 shares during the last quarter. Finally, Sands Capital Management LLC increased its holdings in shares of argenex by 2,046.6% during the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company's stock valued at $300,110,000 after acquiring an additional 340,245 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

argenex Company Profile

argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source