argenex (NASDAQ:ARGX) Sets New 52-Week High Following Analyst Upgrade

argenex SE (NASDAQ:ARGX)’s share price reached a new 52-week high on Thursday after Wells Fargo & Company raised their price target on the stock from $1,350.00 to $1,415.00. Wells Fargo & Company currently has an overweight rating on the stock. argenex traded as high as $1,061.13 and last traded at $1,058.3010, with a volume of 117743 shares changing hands. The stock had previously closed at $1,047.10.

Several other brokerages have also recently commented on ARGX. UBS Group raised argenex from a “neutral” rating to a “buy” rating and increased their price target for the company from $960.00 to $1,400.00 in a research report on Wednesday. Bank of America raised their price target on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. HC Wainwright lifted their price target on argenex from $940.00 to $1,202.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Robert W. Baird increased their price objective on shares of argenex from $867.00 to $932.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Wall Street Zen downgraded shares of argenex from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,157.50.

Institutional Trading of argenex

A number of institutional investors and hedge funds have recently modified their holdings of the business. Eastern Bank purchased a new position in argenex in the 2nd quarter valued at approximately $32,000. Whipplewood Advisors LLC bought a new stake in argenex during the 1st quarter worth approximately $28,000. Sunbelt Securities Inc. bought a new position in argenex in the 3rd quarter valued at $36,000. Axiom Investment Management LLC purchased a new position in shares of argenex during the 1st quarter valued at $50,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of argenex by 268.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 81 shares of the company’s stock worth $68,000 after purchasing an additional 59 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Stock Performance

The stock has a market cap of $66.20 billion, a P/E ratio of 40.64, a P/E/G ratio of 1.06 and a beta of 0.46. The stock has a 50-day moving average price of $903.60 and a 200-day moving average price of $831.06.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. Sell-side analysts forecast that argenex SE will post 29.04 earnings per share for the current fiscal year.

argenex Company Profile

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.