argenex (NASDAQ:ARGX) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• argenx shares rose 3.8% and moved above their 50-day moving average of $929.44, trading as high as $966.18 before closing at $962.27.
• Analysts have a “Moderate Buy” consensus and an average price target of $1,158.76. Recent target changes were mixed, including an RBC cut to $1,025 and increases from Morgan Stanley and Piper Sandler.
• The company reported quarterly EPS of $7.80, beating the $7.44 consensus estimate, on revenue of $1.75 billion.

argenex SE (NASDAQ:ARGX - Get Free Report) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $929.44 and traded as high as $966.18. argenex shares last traded at $962.27, with a volume of 442,897 shares changing hands.

Analysts Set New Price Targets

ARGX has been the topic of several analyst reports. Royal Bank Of Canada cut their target price on shares of argenex from $1,100.00 to $1,025.00 and set an "outperform" rating on the stock in a report on Tuesday, October 20th. Weiss Ratings reissued a "hold (c)" rating on shares of argenex in a research report on Wednesday, October 21st. Morgan Stanley boosted their price target on shares of argenex from $1,140.00 to $1,190.00 and gave the company an "overweight" rating in a report on Friday, October 23rd. Piper Sandler upped their price objective on shares of argenex from $1,075.00 to $1,215.00 and gave the company an "overweight" rating in a research report on Monday, August 17th. Finally, Citizens Jmp raised their price objective on argenex from $932.00 to $1,200.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,158.76.

argenex Trading Up 3.8%

The company has a fifty day moving average price of $929.44 and a two-hundred day moving average price of $858.03. The firm has a market cap of $60.52 billion, a P/E ratio of 33.58, a PEG ratio of 0.86 and a beta of 0.48.

argenex (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Friday, October 23rd. The company reported $7.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.44 by $0.36. The business had revenue of $1.75 billion during the quarter. argenex had a return on equity of 47.70% and a net margin of 31.66%. As a group, sell-side analysts expect that argenex SE will post 28.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Eastern Bank acquired a new stake in shares of argenex during the second quarter worth $32,000. Harbour Investments Inc. lifted its position in argenex by 966.7% in the 3rd quarter. Harbour Investments Inc. now owns 64 shares of the company's stock valued at $62,000 after acquiring an additional 58 shares in the last quarter. Axiom Investment Management LLC acquired a new position in argenex in the 1st quarter worth $50,000. Richardson Financial Services Inc. acquired a new position in argenex in the 3rd quarter worth $66,000. Finally, Mather Group LLC. increased its holdings in argenex by 19.1% during the 3rd quarter. Mather Group LLC. now owns 81 shares of the company's stock worth $78,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

argenex Company Profile

argenx SE is a global immunology company focused on developing medicines for autoimmune diseases. Founded in 2008 and headquartered in the Netherlands, the company uses antibody engineering and other research approaches to identify and develop treatments for conditions with significant unmet medical needs.

Its lead medicine is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo. These products target the neonatal Fc receptor (FcRn) and are approved in the United States for certain patients with generalized myasthenia gravis; Vyvgart Hytrulo is also approved for chronic inflammatory demyelinating polyneuropathy.

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