argenex (NASDAQ:ARGX) Reaches New 52-Week High – Here’s Why

argenex SE (NASDAQ:ARGX)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $934.62 and last traded at $931.1650, with a volume of 143566 shares changing hands. The stock had previously closed at $915.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ARGX shares. Wall Street Zen upgraded shares of argenex from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. raised their price target on argenex from $830.00 to $925.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Zacks Research cut argenex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft lowered argenex from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Finally, Stifel Nicolaus set a $882.00 price target on argenex in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, argenex presently has an average rating of “Moderate Buy” and an average target price of $907.67.

argenex Price Performance

The business’s 50-day moving average price is $846.84 and its 200-day moving average price is $703.42. The firm has a market capitalization of $55.49 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 0.93 and a beta of 0.37.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $4.40 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.03. argenex had a net margin of 41.58% and a return on equity of 29.78%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Equities analysts forecast that argenex SE will post 3.13 earnings per share for the current year.

Hedge Funds Weigh In On argenex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after buying an additional 324,653 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of argenex by 570.3% in the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock worth $216,961,000 after acquiring an additional 250,278 shares during the last quarter. Millennium Management LLC lifted its position in shares of argenex by 316.9% in the first quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock valued at $158,977,000 after acquiring an additional 204,180 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of argenex by 114.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after acquiring an additional 158,476 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after acquiring an additional 142,606 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex 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.