argenx (NASDAQ:ARGX) Hits New 12-Month High - Should You Buy?

argenx SE (NASDAQ:ARGX) reached a new 52-week high mid-day on Thursday, trading as high as $589.60 before settling at $580.60 with 48,891 shares changing hands. This is a notable increase from the previous close of $551.71.

Recent Analyst Recommendations

A number of analysts have recently updated their ratings on argenx shares. On July 29th, Robert W. Baird increased their price target for argenx from $490.00 to $515.00, maintaining an "outperform" rating. Similarly, on July 26th, Wedbush raised its price target from $519.00 to $560.00, continuing to rate the company as "outperform." HC Wainwright also increased their price target on July 26th from $504.00 to $533.00, reaffirming a "buy" rating. Furthermore, Truist Financial raised their target from $480.00 to $540.00 on July 22nd and maintained a "buy" rating. Citigroup notably increased their target on October 17th from $512.00 to $635.00, giving the stock a "buy" rating.

Currently, the consensus rating for argenx is "Moderate Buy" with an average price target of $550.44. The stock is viewed positively, with four analysts recommending a hold, while seventeen give it a buy recommendation, and one assigns a strong buy.

Performance and Market Capitalization

As of now, argenx's stock has risen by 5.6% and carries a market capitalization of approximately $34.64 billion. The company's current P/E ratio is -104.42, and it has a beta of 0.63, indicating lower volatility compared to the market. Additionally, the 50-day and 200-day simple moving averages are $536.03 and $462.82, respectively.

Institutional Investment Activity

Recent changes in institutional holdings reflect growing confidence in argenx. Price T Rowe Associates Inc. MD increased its stake by 49.8% during the first quarter, now owning 5,504,506 shares valued at around $2.17 billion. Janus Henderson Group PLC raised its holdings by 24.8%, now owning shares worth approximately $872 million. Clearbridge Investments LLC also increased its position by 36.5% in the first quarter.

New investments were made by firms like Perpetual Ltd and Logos Global Management LP, highlighting a strong institutional interest in argenx. Overall, institutional investors hold about 60.32% of the company's stock.

Understanding argenx's Business

argenx SE is a biotechnology firm dedicated to developing therapies aimed at treating autoimmune diseases. Their key product, efgartigimod, is designed for various conditions, including myasthenia gravis and immune thrombocytopenia. The company operates in multiple regions, including the United States, Japan, Europe, and China, showcasing its global reach.

Final Thoughts on Investment

Before deciding to invest in argenx, it's essential to consider its current performance and potential for growth. MarketBeat tracks research analysts who provide stock recommendations. Although argenx has a rated "Moderate Buy" status, investors might want to explore other opportunities that analysts view more favorably.

If you are contemplating whether to invest a significant amount in argenx, thorough analysis and assessment of the market conditions are advised.

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