argenx (NASDAQ:ARGX) Reaches New 52-Week High – Time to Buy?

argenx SE (NASDAQ:ARGX)’s share price hit a new 52-week high on Monday . The stock traded as high as $618.36 and last traded at $617.10, with a volume of 10751 shares trading hands. The stock had previously closed at $605.92.

Wall Street Analyst Weigh In

A number of research firms recently commented on ARGX. Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Evercore ISI boosted their target price on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Wolfe Research upgraded argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price target for the company in a research report on Tuesday, November 12th. Robert W. Baird downgraded argenx from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $515.00 to $650.00 in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $630.42.

argenx Stock Up 0.2 %

The company’s 50-day moving average is $559.08 and its 200-day moving average is $491.13. The stock has a market cap of $36.65 billion, a price-to-earnings ratio of -689.95 and a beta of 0.61.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data 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 net margin of 2.11% and a negative return on equity of 1.45%. The firm had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the prior year, the firm earned ($1.25) earnings per share. On average, research analysts forecast that argenx SE will post 2.2 earnings per share for the current year.

Institutional Trading of argenx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Fiera Capital Corp grew its stake in shares of argenx by 2.2% during the second quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock worth $71,212,000 after purchasing an additional 3,506 shares during the period. Cetera Advisors LLC acquired a new stake in shares of argenx in the 1st quarter valued at approximately $419,000. Simplify Asset Management Inc. boosted its stake in argenx by 64.0% during the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after acquiring an additional 944 shares during the last quarter. Perpetual Ltd acquired a new position in argenx during the third quarter valued at approximately $76,314,000. Finally, Varma Mutual Pension Insurance Co increased its stake in argenx by 20.0% in 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.

About argenx

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.