argenx (NASDAQ:ARGX) Sees Unusually-High Trading Volume – Time to Buy?

argenx SE (NASDAQ:ARGX) saw unusually-strong trading volume on Tuesday . 178,130 shares were traded during mid-day trading, a decline of 42% from the previous session’s volume of 307,727 shares.The stock last traded at $600.37 and had previously closed at $606.39.

Wall Street Analysts Forecast Growth

ARGX has been the subject of several research reports. William Blair restated an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Truist Financial reaffirmed a “buy” rating and set a $700.00 price objective (up previously from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Piper Sandler upped their target price on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Guggenheim lifted their price target on shares of argenx from $775.00 to $1,100.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company upped their price objective on shares of argenx from $723.00 to $741.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, argenx has an average rating of “Moderate Buy” and a consensus target price of $690.33.

argenx Stock Performance

The firm has a market capitalization of $36.53 billion, a PE ratio of -683.23 and a beta of 0.60. The firm has a fifty day moving average of $606.57 and a 200 day moving average of $604.95.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.60. The firm had revenue of $761.22 million for the quarter, compared to analysts’ expectations of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. Research analysts forecast that argenx SE will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of argenx

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in argenx by 17.2% in the 4th quarter. FMR LLC now owns 5,618,222 shares of the company’s stock valued at $3,455,207,000 after acquiring an additional 824,750 shares during the period. Capital World Investors grew its holdings in shares of argenx by 5.1% during the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company’s stock valued at $1,099,002,000 after buying an additional 86,687 shares in the last quarter. RTW Investments LP increased its holdings in shares of argenx by 2.9% in the 4th quarter. RTW Investments LP now owns 673,497 shares of the company’s stock valued at $414,201,000 after purchasing an additional 19,067 shares during the period. Clearbridge Investments LLC increased its stake in shares of argenx by 6.8% in the fourth quarter. Clearbridge Investments LLC now owns 629,828 shares of the company’s stock worth $387,344,000 after acquiring an additional 40,330 shares during the last quarter. Finally, Jennison Associates LLC raised its position in argenx by 27.0% during the fourth quarter. Jennison Associates LLC now owns 302,149 shares of the company’s stock valued at $185,821,000 after acquiring an additional 64,183 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

argenx Company Profile

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.