argenex (NASDAQ:ARGX) Sets New 12-Month High Following Analyst Upgrade

Key Points

• argenx shares hit a new 52-week high, trading near $1,058 after Wells Fargo raised its price target from $1,350 to $1,415 and maintained an overweight rating.
• Analyst sentiment remains broadly positive: UBS upgraded the stock to “buy,” while the consensus rating is “Moderate Buy” with a $1,157.50 price target; Deutsche Bank was a notable exception, downgrading it to “hold.”
• argenx reported quarterly EPS of $7.32, beating estimates of $5.86, while revenue reached $1.54 billion versus the $1.45 billion consensus estimate. Institutional investors own approximately 60.32% of the company.

argenex SE (NASDAQ:ARGX - Get Free Report)'s stock price reached a new 52-week high on Thursday after Wells Fargo & Company raised their price target on the stock from $1,350.00 to $1,415.00. Wells Fargo & Company currently has an overweight rating on the stock. argenex traded as high as $1,061.13 and last traded at $1,058.3010, with a volume of 117743 shares trading hands. The stock had previously closed at $1,047.10.

Other analysts have also recently issued research reports about the company. UBS Group upgraded argenex from a "neutral" rating to a "buy" rating and upped their price objective for the company from $960.00 to $1,400.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut shares of argenex from a "buy" rating to a "hold" rating in a report on Monday. Wedbush lifted their target price on argenex from $1,050.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Tuesday, August 18th. Royal Bank Of Canada boosted their price objective on argenex from $1,025.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Tuesday, August 18th. Finally, Oppenheimer increased their price objective on shares of argenex from $1,014.00 to $1,037.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, argenex has a consensus rating of "Moderate Buy" and a consensus price target of $1,157.50.

Institutional Trading of argenex

A number of institutional investors have recently bought and sold shares of ARGX. AQR Capital Management LLC boosted its holdings in argenex by 32.1% in the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company's stock valued at $297,000 after purchasing an additional 122 shares during the period. NewEdge Advisors LLC boosted its position in shares of argenex by 5,962.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,455 shares of the company's stock valued at $862,000 after acquiring an additional 1,431 shares in the last quarter. Focus Partners Wealth increased its stake in argenex by 22.3% in the first quarter. Focus Partners Wealth now owns 400 shares of the company's stock valued at $237,000 after acquiring an additional 73 shares during the period. Geneos Wealth Management Inc. raised its position in argenex by 550.0% in the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company's stock worth $69,000 after purchasing an additional 99 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in argenex by 60.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company's stock valued at $73,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

argenex Trading Up 1.1%

The stock has a fifty day moving average price of $903.60 and a 200-day moving average price of $831.06. The firm has a market capitalization of $66.20 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 1.06 and a beta of 0.46.

argenex (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating analysts' consensus estimates of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. On average, equities analysts expect that argenex SE will post 29.04 EPS for the current year.

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.

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