argenx (NASDAQ:ARGX) Reaches New 12-Month High on Analyst Upgrade

argenx SE (NASDAQ:ARGX)’s share price hit a new 52-week high during mid-day trading on Friday after Citigroup raised their price target on the stock from $512.00 to $635.00. Citigroup currently has a buy rating on the stock. argenx traded as high as $558.28 and last traded at $557.58, with a volume of 72443 shares traded. The stock had previously closed at $543.84.

A number of other analysts have also commented on ARGX. Oppenheimer raised shares of argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price objective for the company in a research note on Tuesday, July 23rd. HC Wainwright upped their price target on shares of argenx from $504.00 to $533.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Truist Financial lifted their price objective on shares of argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI increased their target price on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a report on Friday, July 12th. Finally, Wedbush raised their target price on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $550.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in argenx by 26.2% in the 4th quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock worth $106,204,000 after purchasing an additional 57,956 shares during the last quarter. TD Asset Management Inc raised its position in shares of argenx by 15.4% in the first quarter. TD Asset Management Inc now owns 223,695 shares of the company’s stock valued at $88,073,000 after purchasing an additional 29,810 shares during the period. Seven Eight Capital LP lifted its stake in shares of argenx by 66.4% in the first quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock worth $1,224,000 after buying an additional 1,241 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of argenx by 36.5% during the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock worth $234,766,000 after buying an additional 159,480 shares during the period. Finally, FORA Capital LLC acquired a new position in argenx in the 1st quarter valued at $2,024,000. Institutional investors own 60.32% of the company’s stock.

argenx Trading Up 2.5 %

The stock has a market cap of $33.14 billion, a P/E ratio of -96.08 and a beta of 0.63. The firm’s fifty day moving average is $531.17 and its 200 day moving average is $452.30.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data 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 business had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. During the same period in the previous year, the company posted ($1.69) earnings per share. Research analysts forecast that argenx SE will post -0.37 earnings per share for the current fiscal year.

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.