argenx (NASDAQ:ARGX) Sees Strong Trading Volume – Should You Buy?

argenx SE (NASDAQ:ARGX) saw an uptick in trading volume on Tuesday . 178,130 shares were traded during trading, a decline of 42% from the previous session’s volume of 307,727 shares.The stock last traded at $600.37 and had previously closed at $606.39.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ARGX shares. Wells Fargo & Company raised their target price on shares of argenx from $723.00 to $741.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Sanford C. Bernstein upgraded argenx from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. JMP Securities lifted their target price on argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a report on Tuesday, January 14th. Oppenheimer raised their price objective on argenx from $675.00 to $704.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Guggenheim boosted their target price on argenx from $775.00 to $1,100.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $690.33.

argenx Price Performance

The stock has a market cap of $35.70 billion, a PE ratio of -667.72 and a beta of 0.60. The business has a fifty day moving average of $604.33 and a 200 day moving average of $604.83.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $761.22 million during the quarter, compared to the consensus estimate of $678.52 million. On average, equities research analysts expect that argenx SE will post 3.13 EPS for the current year.

Institutional Trading of argenx

Institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its holdings in shares of argenx by 215.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company’s stock valued at $65,336,000 after buying an additional 75,435 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of argenx by 13.1% during the first quarter. Handelsbanken Fonder AB now owns 38,050 shares of the company’s stock valued at $22,520,000 after purchasing an additional 4,403 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of argenx by 6.4% in the 1st quarter. Park Avenue Securities LLC now owns 1,804 shares of the company’s stock worth $1,068,000 after purchasing an additional 109 shares during the last quarter. Whipplewood Advisors LLC boosted its position in argenx by 350.0% during the 1st quarter. Whipplewood Advisors LLC now owns 270 shares of the company’s stock valued at $160,000 after purchasing an additional 210 shares during the period. Finally, GAMMA Investing LLC boosted its position in argenx by 53,684.9% during the 1st quarter. GAMMA Investing LLC now owns 135,538 shares of the company’s stock valued at $802,200,000 after purchasing an additional 135,286 shares during the period. 60.32% of the stock is owned by institutional investors and hedge funds.

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.