argenx (NASDAQ:ARGX) Reaches New 1-Year High at $359.50

argenx SE (NASDAQ:ARGXGet Rating) hit a new 52-week high during trading on Tuesday . The stock traded as high as $359.50 and last traded at $359.00, with a volume of 1819 shares trading hands. The stock had previously closed at $349.96.

A number of equities analysts recently weighed in on ARGX shares. Morgan Stanley upgraded shares of argenx from an “equal weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a report on Tuesday, May 3rd. SVB Leerink restated an “outperform” rating on shares of argenx in a research note on Tuesday, May 24th. Piper Sandler raised their target price on shares of argenx from $375.00 to $415.00 and gave the stock an “overweight” rating in a research note on Friday, May 27th. HC Wainwright restated a “buy” rating and set a $400.00 target price on shares of argenx in a research note on Friday, March 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “hold” rating to a “buy” rating in a research note on Friday, May 13th. One equities research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $362.94.

The firm’s 50 day moving average price is $315.05 and its two-hundred day moving average price is $305.82. The company has a market cap of $19.12 billion, a P/E ratio of -30.33 and a beta of 1.11.

argenx (NASDAQ:ARGXGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($4.36) EPS for the quarter, beating analysts’ consensus estimates of ($5.08) by $0.72. argenx had a negative net margin of 147.47% and a negative return on equity of 32.54%. During the same quarter last year, the firm posted ($0.81) earnings per share. On average, analysts predict that argenx SE will post -19.16 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in argenx by 23.4% during the first quarter. Jennison Associates LLC now owns 1,017,415 shares of the company’s stock valued at $320,801,000 after purchasing an additional 192,844 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in argenx by 62.7% during the first quarter. Goldman Sachs Group Inc. now owns 334,169 shares of the company’s stock valued at $105,366,000 after purchasing an additional 128,759 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of argenx by 40.6% during the fourth quarter. Point72 Asset Management L.P. now owns 403,650 shares of the company’s stock valued at $141,354,000 after buying an additional 116,603 shares during the period. Wellington Management Group LLP increased its position in shares of argenx by 19.8% during the third quarter. Wellington Management Group LLP now owns 668,696 shares of the company’s stock valued at $201,945,000 after buying an additional 110,349 shares during the period. Finally, Artal Group S.A. increased its position in shares of argenx by 17.5% during the first quarter. Artal Group S.A. now owns 587,500 shares of the company’s stock valued at $185,245,000 after buying an additional 87,500 shares during the period. 58.76% of the stock is currently owned by institutional investors.

argenx Company Profile (NASDAQ:ARGX)

argenx SE, a biotechnology company, focuses on developing various therapies for the treatment of autoimmune diseases in the United States, the Netherlands, Belgium, Japan, Switzerland, Germany and France. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, and chronic inflammatory demyelinating polyneuropathy in Phase III clinical trials; bullous pemphigoid and idiopathic inflammatory myopathy in Phase II/III clinical trials; and ENHANZE SC in Pre-clinical study.

Recommended Stories

Want More Great Investing Ideas?

Receive News & Ratings for argenx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for argenx and related companies with MarketBeat.com's FREE daily email newsletter.