argenx (NASDAQ:ARGX) Hits New 1-Year High at $541.05

argenx SE (NASDAQ:ARGX) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $541.05 and last traded at $540.10, with a volume of 203315 shares trading hands. The stock had previously closed at $527.42.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th. Wedbush upped their price objective on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Robert W. Baird increased their price objective on argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Stifel Nicolaus boosted their target price on argenx from $485.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. lifted their price objective on argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $547.74.

argenx Trading Down 1.2 %

The company has a 50 day moving average of $494.75 and a 200 day moving average of $422.99. The firm has a market cap of $32.21 billion, a price-to-earnings ratio of -95.76 and a beta of 0.64.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The company had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. During the same quarter last year, the firm posted ($1.69) earnings per share. Equities analysts forecast that argenx SE will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its position in shares of argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after buying an additional 62 shares during the period. J.Safra Asset Management Corp increased its position in shares of argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after acquiring an additional 59 shares during the last quarter. GAMMA Investing LLC raised its holdings in argenx by 420.0% during the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 63 shares in the last quarter. Mather Group LLC. acquired a new position in argenx during the first quarter valued at approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in argenx in the fourth quarter valued at approximately $60,000. Institutional investors own 60.32% of the company’s stock.

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.