argenx (NASDAQ:ARGX) Reaches New 12-Month High – Still a Buy?

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ARGX shares. Raymond James reissued a “strong-buy” rating and issued a $605.00 target price on shares of argenx in a report on Thursday, October 10th. Truist Financial increased their price objective on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Baird R W cut shares of argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Wedbush reiterated an “outperform” rating and set a $655.00 price target on shares of argenx in a research note on Tuesday, December 3rd. Finally, Guggenheim raised their price objective on shares of argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $639.78.

argenx Price Performance

The company has a market capitalization of $38.96 billion, a price-to-earnings ratio of -733.38 and a beta of 0.59. The firm’s 50-day simple moving average is $605.35 and its two-hundred day simple moving average is $541.51.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same period last year, the business posted ($1.25) EPS. On average, analysts expect that argenx SE will post 2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its holdings in argenx by 35.9% during the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of argenx by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock worth $1,343,797,000 after purchasing an additional 10,975 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of argenx by 3.6% during the 2nd quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock worth $265,535,000 after purchasing an additional 21,189 shares during the last quarter. Wellington Management Group LLP lifted its stake in argenx by 13.0% in the 3rd quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock valued at $261,470,000 after buying an additional 55,617 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in argenx by 15.2% during the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after buying an additional 50,477 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.