argenx (NASDAQ:ARGX) Hits New 1-Year High Following Analyst Upgrade

argenx SE (NASDAQ:ARGX)’s stock price hit a new 52-week high on Friday after Citigroup raised their price target on the stock from $512.00 to $635.00. Citigroup currently has a buy rating on the stock. argenx traded as high as $558.28 and last traded at $557.58, with a volume of 72443 shares changing hands. The stock had previously closed at $543.84.

A number of other analysts have also weighed in on ARGX. HC Wainwright raised their price objective on shares of argenx from $504.00 to $533.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Oppenheimer raised shares of argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price target for the company in a research report on Tuesday, July 23rd. Piper Sandler upped their price objective on argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Evercore ISI increased their target price on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Finally, Wells Fargo & Company boosted their price target on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $550.44.

Hedge Funds Weigh In On argenx

A number of institutional investors have recently bought and sold shares of the stock. Profund Advisors LLC increased its position in argenx by 3.0% in the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock worth $418,000 after buying an additional 28 shares in the last quarter. Wealth Alliance increased its holdings in argenx by 4.8% in the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock worth $270,000 after acquiring an additional 29 shares in the last quarter. GAMMA Investing LLC raised its stake in argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after acquiring an additional 40 shares during the period. Toronto Dominion Bank lifted its holdings in argenx by 16.5% during the first quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock valued at $119,000 after purchasing an additional 43 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of argenx by 3.1% in the second quarter. Sequoia Financial Advisors LLC now owns 1,713 shares of the company’s stock worth $737,000 after purchasing an additional 52 shares during the period. 60.32% of the stock is owned by institutional investors.

argenx Stock Up 3.9 %

The stock has a market capitalization of $33.58 billion, a PE ratio of -99.82 and a beta of 0.63. The stock’s 50 day moving average price is $531.77 and its 200-day moving average price is $453.46.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $1.34. The business had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same period last year, the firm earned ($1.69) earnings per share. On average, analysts forecast that argenx SE will post -0.37 earnings per share for the current year.

About argenx

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.