argenex (NASDAQ:ARGX) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of argenex SE (NASDAQ:ARGX) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $929.44 and traded as high as $966.18. argenex shares last traded at $962.27, with a volume of 442,897 shares traded.

Analyst Ratings Changes

ARGX has been the subject of a number of research reports. Barclays reiterated a “buy” rating on shares of argenex in a report on Monday, September 7th. Robert W. Baird boosted their target price on argenex from $823.00 to $861.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Truist Financial upped their price target on argenex from $1,030.00 to $1,095.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of argenex in a research note on Friday, September 25th. Finally, Royal Bank Of Canada decreased their price target on shares of argenex from $1,100.00 to $1,025.00 and set an “outperform” rating for the company in a research note on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,158.76.

argenex Stock Performance

The firm’s 50-day simple moving average is $929.44 and its 200 day simple moving average is $858.03. The stock has a market capitalization of $60.52 billion, a P/E ratio of 33.58, a PEG ratio of 0.86 and a beta of 0.48.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Friday, October 23rd. The company reported $7.80 EPS for the quarter, topping analysts’ consensus estimates of $7.44 by $0.36. The company had revenue of $1.75 billion during the quarter. argenex had a net margin of 31.66% and a return on equity of 47.70%. As a group, research analysts expect that argenex SE will post 28.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Eastern Bank acquired a new position in argenex during the second quarter valued at approximately $32,000. Axiom Investment Management LLC acquired a new position in shares of argenex during the 1st quarter worth approximately $50,000. Harbour Investments Inc. increased its position in shares of argenex by 966.7% during the 3rd quarter. Harbour Investments Inc. now owns 64 shares of the company’s stock worth $62,000 after purchasing an additional 58 shares during the last quarter. Richardson Financial Services Inc. acquired a new position in shares of argenex during the 3rd quarter worth approximately $66,000. Finally, Mather Group LLC. increased its position in shares of argenex by 19.1% during the 3rd quarter. Mather Group LLC. now owns 81 shares of the company’s stock worth $78,000 after purchasing an additional 13 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

About argenex

argenx SE is a global immunology company focused on developing medicines for autoimmune diseases. Founded in 2008 and headquartered in the Netherlands, the company uses antibody engineering and other research approaches to identify and develop treatments for conditions with significant unmet medical needs.

Its lead medicine is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo. These products target the neonatal Fc receptor (FcRn) and are approved in the United States for certain patients with generalized myasthenia gravis; Vyvgart Hytrulo is also approved for chronic inflammatory demyelinating polyneuropathy.