argenex (NASDAQ:ARGX) Reaches New 12-Month High After Analyst Upgrade

argenex SE (NASDAQ:ARGX) shares reached a new 52-week high during mid-day trading on Thursday after Bank of America raised their price target on the stock from $1,016.00 to $1,088.00. Bank of America currently has a buy rating on the stock. argenex traded as high as $945.41 and last traded at $946.8420, with a volume of 59246 shares. The stock had previously closed at $909.50.

A number of other analysts have also issued reports on ARGX. Wall Street Zen lowered shares of argenex from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Guggenheim lifted their price objective on shares of argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft raised shares of argenex from a “hold” rating to a “buy” rating in a research note on Tuesday, March 10th. Oppenheimer reduced their target price on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a report on Thursday, April 2nd. Finally, Wells Fargo & Company raised their price target on shares of argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,034.56.

Institutional Trading of argenex

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Abound Wealth Management raised its stake in shares of argenex by 3,200.0% during the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after buying an additional 32 shares during the last quarter. Sound Income Strategies LLC acquired a new position in argenex in the fourth quarter valued at $28,000. Whipplewood Advisors LLC purchased a new stake in argenex during the first quarter valued at about $28,000. Ameriflex Group Inc. acquired a new stake in argenex during the third quarter worth about $32,000. Finally, Eastern Bank acquired a new stake in argenex during the second quarter worth about $32,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Stock Performance

The company has a market capitalization of $58.41 billion, a PE ratio of 41.82, a P/E/G ratio of 1.42 and a beta of 0.45. The business has a fifty day moving average price of $835.36 and a 200 day moving average price of $809.82.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. The business had revenue of $1.31 billion during the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%. Research analysts forecast that argenex SE will post 26.19 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.