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

Shares of argenx SE (NASDAQ:ARGX) hit a new 52-week high during 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.

Several other research analysts have also commented on the company. Truist Financial lifted their target price on argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wedbush boosted their target price on shares of argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. HC Wainwright increased their target price on shares of argenx from $504.00 to $533.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Guggenheim reaffirmed a “buy” rating and issued a $585.00 price target on shares of argenx in a report on Thursday, September 26th. Finally, Raymond James reiterated a “strong-buy” rating and set a $605.00 price objective on shares of argenx in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, argenx presently has an average rating of “Moderate Buy” and an average target price of $550.44.

Institutional Investors Weigh In On argenx

A number of institutional investors have recently added to or reduced their stakes in the company. Profund Advisors LLC lifted its holdings in shares of argenx by 3.0% in the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock valued at $418,000 after buying an additional 28 shares during the period. Wealth Alliance boosted its position in shares of argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after purchasing an additional 29 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after purchasing an additional 40 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of argenx by 16.5% in the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock worth $119,000 after purchasing an additional 43 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of argenx by 3.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,713 shares of the company’s stock worth $737,000 after purchasing an additional 52 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Stock Up 3.9 %

The firm has a market capitalization of $33.58 billion, a price-to-earnings ratio of -99.17 and a beta of 0.63. The firm’s 50 day moving average is $531.17 and its 200 day moving average is $452.30.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of ($0.89) by $1.34. The business had revenue of $489.43 million during the quarter, compared to analyst estimates of $436.66 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same period last year, the company posted ($1.69) EPS. On average, sell-side analysts predict that argenx SE will post -0.37 earnings per share for the current year.

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.