argenx (NASDAQ:ARGX) Hits New 52-Week High at $541.05

argenx SE (NASDAQ:ARGX) shares hit a new 52-week high during trading on Thursday . The company traded as high as $541.05 and last traded at $540.10, with a volume of 203315 shares trading hands. The stock had previously closed at $527.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ARGX shares. JPMorgan Chase & Co. increased their target price on shares of argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Truist Financial increased their price objective on argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Bank of America restated a “buy” rating and issued a $607.00 target price (up previously from $535.00) on shares of argenx in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft raised argenx from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, Guggenheim boosted their price target on argenx from $545.00 to $585.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $547.74.

argenx Price Performance

The stock has a market cap of $32.21 billion, a price-to-earnings ratio of -95.76 and a beta of 0.64. The stock’s 50 day simple moving average is $494.75 and its two-hundred day simple moving average is $422.99.

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

Institutional Investors Weigh In On argenx

A number of institutional investors have recently added to or reduced their stakes in ARGX. Gilbert & Cook Inc. boosted its stake in shares of argenx by 8.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,991 shares of the company’s stock valued at $757,000 after purchasing an additional 147 shares in the last quarter. New York Life Investment Management LLC boosted its position in argenx by 5.2% in the fourth quarter. New York Life Investment Management LLC now owns 978 shares of the company’s stock valued at $372,000 after buying an additional 48 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in argenx during the fourth quarter worth about $60,000. Maryland State Retirement & Pension System acquired a new stake in shares of argenx during the fourth quarter worth approximately $733,000. Finally, Principal Securities Inc. bought a new position in shares of argenx in the fourth quarter valued at approximately $99,000. 60.32% of the stock is owned by institutional investors and hedge funds.

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.