argenex (NASDAQ:ARGX) Sets New 52-Week High – Time to Buy?

argenex SE (NASDAQ:ARGX) shares hit a new 52-week high on Monday . The stock traded as high as $849.99 and last traded at $850.35, with a volume of 452503 shares. The stock had previously closed at $837.28.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research upgraded argenex from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft downgraded argenex from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Guggenheim restated a “buy” rating and set a $1,070.00 price target on shares of argenex in a research note on Thursday, September 18th. JPMorgan Chase & Co. increased their price target on argenex from $775.00 to $830.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Finally, Morgan Stanley boosted their price objective on shares of argenex from $766.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $817.53.

argenex Price Performance

The company has a 50-day simple moving average of $742.84 and a 200-day simple moving average of $639.72. The stock has a market cap of $51.39 billion, a PE ratio of 42.81, a PEG ratio of 0.91 and a beta of 0.46.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.90. The business had revenue of $866.79 million for the quarter, compared to analysts’ expectations of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. On average, equities analysts expect that argenex SE will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in argenex by 6.8% during the 3rd quarter. GAMMA Investing LLC now owns 251 shares of the company’s stock worth $185,000 after acquiring an additional 16 shares in the last quarter. Greenleaf Trust lifted its position in shares of argenex by 3.5% during the first quarter. Greenleaf Trust now owns 624 shares of the company’s stock worth $369,000 after purchasing an additional 21 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of argenex by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company’s stock worth $1,083,000 after purchasing an additional 24 shares during the last quarter. Main Management ETF Advisors LLC grew its stake in argenex by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 1,466 shares of the company’s stock worth $808,000 after purchasing an additional 24 shares in the last quarter. Finally, M&T Bank Corp grew its stake in argenex by 0.6% in the first quarter. M&T Bank Corp now owns 4,296 shares of the company’s stock worth $2,542,000 after purchasing an additional 27 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

About argenex

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.