argenx (NASDAQ:ARGX) Sets New 12-Month High - Still a Buy?

argenx SE (NASDAQ:ARGX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $633.03 and last traded at $632.56, with a volume of 32619 shares traded. The stock had previously closed at $607.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. William Blair upgraded shares of argenx from a "market perform" rating to an "outperform" rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their price objective on argenx from $547.00 to $639.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Guggenheim increased their target price on argenx from $585.00 to $665.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Oppenheimer restated an "outperform" rating and issued a $675.00 target price (up from $646.00) on shares of argenx in a research note on Thursday, November 21st. Finally, JMP Securities upped their price target on shares of argenx from $497.00 to $606.00 and gave the stock a "market outperform" rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $635.11.

argenx Stock Up 4.2 %

The stock has a market cap of $38.19 billion, a P/E ratio of -718.91 and a beta of 0.59. The stock has a fifty day simple moving average of $583.23 and a 200-day simple moving average of $517.38.

argenx (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same quarter last year, the firm earned ($1.25) EPS. Sell-side analysts anticipate that argenx SE will post 2.2 earnings per share for the current year.

Institutional Trading of argenx

A number of large investors have recently made changes to their positions in ARGX. Blue Trust Inc. grew its stake in argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company's stock valued at $28,000 after acquiring an additional 62 shares during the period. Cromwell Holdings LLC grew its position in shares of argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock valued at $85,000 after purchasing an additional 66 shares during the period. GAMMA Investing LLC grew its position in shares of argenx by 47.5% in the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company's stock valued at $94,000 after purchasing an additional 56 shares during the period. Point72 Hong Kong Ltd bought a new stake in argenx during the 2nd quarter worth approximately $76,000. Finally, Keudell Morrison Wealth Management acquired a new stake in argenx during the 3rd quarter worth approximately $207,000. Institutional investors own 60.32% of the company's stock.

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.