argenex (NASDAQ:ARGX) Trading 4.8% Higher – Still a Buy?

argenex SE (NASDAQ:ARGX)’s share price traded up 4.8% on Friday . The company traded as high as $879.09 and last traded at $883.0790. 263,762 shares were traded during mid-day trading, a decline of 24% from the average session volume of 348,502 shares. The stock had previously closed at $842.27.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. HC Wainwright lifted their target price on argenex from $915.00 to $940.00 and gave the company a “buy” rating in a report on Friday, February 27th. Robert W. Baird lifted their target price on argenex from $858.00 to $867.00 and gave the company a “neutral” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft upgraded argenex from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a report on Monday, April 20th. Finally, Wall Street Zen cut argenex from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, argenex currently has an average rating of “Moderate Buy” and an average price target of $1,019.50.

argenex Price Performance

The firm has a 50-day simple moving average of $794.90 and a 200 day simple moving average of $813.42. The company has a market capitalization of $55.43 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. argenex had a return on equity of 33.28% and a net margin of 31.31%.The company had revenue of $1.31 billion for the quarter. Equities research analysts expect that argenex SE will post 26.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Abound Wealth Management raised its position in argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after purchasing an additional 32 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of argenex during the fourth quarter worth about $28,000. Whipplewood Advisors LLC purchased a new stake in shares of argenex during the first quarter worth about $28,000. Ameriflex Group Inc. purchased a new stake in shares of argenex during the third quarter worth about $32,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of argenex during the third quarter worth about $36,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

About argenex

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.