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

argenex SE (NASDAQ:ARGX)’s share price hit 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 trading hands. The stock had previously closed at $1,028.51.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ARGX. Piper Sandler lifted their price objective on shares of argenex from $1,075.00 to $1,215.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. UBS Group raised argenex from a “neutral” rating to a “buy” rating and upped their target price for the company from $960.00 to $1,400.00 in a research report on Wednesday, August 26th. Weiss Ratings lowered argenex from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Bank of America lifted their price target on argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Guggenheim began coverage on argenex in a research note on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 price target on the stock. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,158.61.

argenex Price Performance

The firm’s fifty day simple moving average is $916.19 and its 200 day simple moving average is $836.94. The company 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.

argenex (NASDAQ:ARGX) last released its quarterly earnings data 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. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. On average, equities research analysts anticipate that argenex SE will post 29.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new position in argenex in the first quarter valued at approximately $28,000. Eastern Bank acquired a new stake in shares of argenex during the 2nd quarter worth approximately $32,000. Sunbelt Securities Inc. acquired a new stake in shares of argenex during the 3rd quarter worth approximately $36,000. Axiom Investment Management LLC purchased a new position in shares of argenex during the 1st quarter valued at approximately $50,000. Finally, WPG Advisers LLC increased its holdings in shares of argenex by 17.8% during the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after purchasing an additional 13 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

About argenex

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.