argenx (NASDAQ:ARGX) Reaches New 12-Month High – Here’s What Happened

Shares of argenx SE (NASDAQ:ARGX) reached 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. The stock had previously closed at $605.92.

Wall Street Analysts Forecast Growth

ARGX has been the subject of several recent analyst reports. Raymond James restated a “strong-buy” rating and issued a $605.00 price target on shares of argenx in a report on Thursday, October 10th. Piper Sandler upped their price target on shares of argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Barclays raised shares of argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, JMP Securities upped their price objective on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $630.42.

argenx Trading Up 0.2 %

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

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same period in the previous year, the business earned ($1.25) earnings per share. As a group, equities research analysts anticipate that argenx SE will post 2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its position in argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after purchasing an additional 62 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after buying an additional 59 shares during the last quarter. GAMMA Investing LLC boosted its position in argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after buying an additional 40 shares during the period. Point72 Hong Kong Ltd bought a new stake in argenx during the 2nd quarter worth approximately $76,000. Finally, Cromwell Holdings LLC increased its position in argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds 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.