argenex (NASDAQ:ARGX) Reaches New 12-Month High – Time to Buy?

argenex SE (NASDAQ:ARGX)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $977.84 and last traded at $975.9230, with a volume of 113227 shares trading hands. The stock had previously closed at $851.29.

Wall Street Analyst Weigh In

ARGX has been the subject of several analyst reports. Morgan Stanley boosted their target price on argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Oppenheimer increased their price target on argenex from $1,014.00 to $1,037.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Guggenheim assumed coverage on argenex in a research report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 price target on the stock. Wells Fargo & Company lifted their price objective on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Finally, Robert W. Baird boosted their price objective on argenex from $867.00 to $932.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,056.89.

argenex Stock Performance

The company has a fifty day moving average price of $881.73 and a two-hundred day moving average price of $821.12. The company has a market cap of $61.86 billion, a P/E ratio of 38.03, a PEG ratio of 1.05 and a beta of 0.46.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. Research analysts anticipate that argenex SE will post 28.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in shares of argenex by 3.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock worth $1,847,592,000 after purchasing an additional 83,568 shares in the last quarter. M&T Bank Corp grew its stake in shares of argenex by 20,977.7% in the fourth quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock valued at $654,772,000 after buying an additional 774,916 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of argenex by 80.1% in the third 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. Morgan Stanley increased its holdings in argenex by 19.2% during the fourth quarter. Morgan Stanley now owns 518,852 shares of the company’s stock worth $436,331,000 after buying an additional 83,746 shares during the last quarter. Finally, Invesco Ltd. raised its position in argenex by 390.4% during the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock worth $350,178,000 after acquiring an additional 331,489 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

About argenex

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.