argenex (NASDAQ:ARGX) Reaches New 12-Month High After Analyst Upgrade

argenex SE (NASDAQ:ARGX)’s stock price reached a new 52-week high during trading on Thursday after Bank of America raised their price target on the stock from $1,016.00 to $1,088.00. Bank of America currently has a buy rating on the stock. argenex traded as high as $945.41 and last traded at $946.8420, with a volume of 59246 shares changing hands. The stock had previously closed at $909.50.

Several other analysts have also recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $1,000.00 target price on shares of argenex in a report on Thursday, June 11th. Guggenheim lifted their price target on argenex from $1,120.00 to $1,135.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Glj Research raised shares of argenex to a “strong-buy” rating in a research report on Friday, April 3rd. HC Wainwright reissued a “buy” rating and issued a $940.00 price objective on shares of argenex in a report on Thursday, June 25th. Finally, Morgan Stanley raised their price objective on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, argenex presently has a consensus rating of “Moderate Buy” and an average target price of $1,034.56.

Hedge Funds Weigh In On argenex

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC raised its holdings in argenex by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock valued at $1,847,592,000 after buying an additional 83,568 shares during the period. Capital World Investors boosted its stake in argenex by 0.4% during the third quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock worth $1,445,113,000 after buying an additional 8,422 shares during the period. M&T Bank Corp increased its position in shares of argenex by 20,977.7% during the fourth quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock valued at $654,772,000 after acquiring an additional 774,916 shares during the last quarter. Wellington Management Group LLP increased its position in shares of argenex by 80.1% during the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after acquiring an additional 324,653 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of argenex by 19.2% in the 4th quarter. Morgan Stanley now owns 518,852 shares of the company’s stock valued at $436,331,000 after acquiring an additional 83,746 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Stock Performance

The business’s 50 day moving average price is $835.36 and its 200-day moving average price is $809.82. The firm has a market capitalization of $58.41 billion, a PE ratio of 41.82, a P/E/G ratio of 1.42 and a beta of 0.45.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. The firm had revenue of $1.31 billion during the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. As a group, analysts anticipate that argenex SE will post 26.19 earnings per share for the current year.

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.