argenx (NASDAQ:ARGX) Sets New 12-Month High – Time to Buy?

Shares of argenx SE (NASDAQ:ARGX) reached a new 52-week high during trading on Monday . The company traded as high as $646.35 and last traded at $645.95, with a volume of 175943 shares traded. The stock had previously closed at $621.29.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Robert W. Baird lowered shares of argenx from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $515.00 to $650.00 in a research report on Friday, November 1st. Truist Financial increased their price target on shares of argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wolfe Research upgraded argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective for the company in a report on Tuesday, November 12th. Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $439.00 to $715.00 in a research note on Tuesday, November 5th. Finally, HC Wainwright restated a “buy” rating and issued a $617.00 price target on shares of argenx in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $645.61.

argenx Trading Up 0.1 %

The company’s 50-day moving average is $611.04 and its 200-day moving average is $545.85. The firm has a market cap of $39.19 billion, a price-to-earnings ratio of -737.80 and a beta of 0.59.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The firm had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the prior year, the company earned ($1.25) earnings per share. Equities research analysts forecast that argenx SE will post 2.2 EPS for the current year.

Hedge Funds Weigh In On argenx

A number of institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp grew its stake in shares of argenx by 15.3% during the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock worth $4,788,000 after buying an additional 1,170 shares during the last quarter. FMR LLC grew its position in argenx by 35.9% during the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after acquiring an additional 1,265,486 shares during the last quarter. Simplify Asset Management Inc. increased its holdings in argenx by 64.0% in the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after purchasing an additional 944 shares in the last quarter. Perpetual Ltd bought a new position in argenx in the third quarter valued at about $76,314,000. Finally, Varma Mutual Pension Insurance Co boosted its stake in shares of argenx by 20.0% during the second quarter. Varma Mutual Pension Insurance Co now owns 6,000 shares of the company’s stock valued at $2,580,000 after purchasing an additional 1,000 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx 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.