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

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARGX. Evercore ISI upped their price target on argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. HC Wainwright reaffirmed a “buy” rating and issued a $617.00 target price on shares of argenx in a research note on Wednesday, November 20th. Scotiabank raised shares of argenx from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $439.00 to $715.00 in a research note on Tuesday, November 5th. Piper Sandler raised their price objective on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on shares of argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $645.61.

argenx Stock Performance

The firm’s 50-day moving average is $611.04 and its 200 day moving average is $545.85. The firm has a market capitalization of $39.19 billion, a P/E ratio of -737.80 and a beta of 0.59.

argenx (NASDAQ:ARGX) last posted 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 return on equity of 1.45% and a negative net margin of 2.11%. The company 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 firm earned ($1.25) earnings per share. As a group, research analysts expect that argenx SE will post 2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARGX. Point72 Hong Kong Ltd acquired a new position in argenx during the second quarter worth $76,000. Cromwell Holdings LLC increased its stake in shares of argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after purchasing an additional 66 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of argenx by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after purchasing an additional 56 shares during the last quarter. Blue Trust Inc. lifted its stake in argenx by 413.9% in the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company’s stock valued at $201,000 after purchasing an additional 298 shares during the last quarter. Finally, Gallacher Capital Management LLC bought a new position in argenx during the second quarter worth about $202,000. Institutional investors own 60.32% of the company’s stock.

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.