argenx (ARGX) Shares Up 7%

argenx SE – (NASDAQ:ARGX) shot up 7% on Thursday . The company traded as high as $85.55 and last traded at $83.77. 507,806 shares were traded during mid-day trading, an increase of 187% from the average session volume of 176,761 shares. The stock had previously closed at $78.26.

A number of research firms have recently weighed in on ARGX. Piper Jaffray Companies reiterated an “overweight” rating and issued a $154.00 price target on shares of argenx in a research report on Monday, September 17th. Wedbush boosted their price objective on shares of argenx from $114.00 to $121.00 and gave the company a “positive” rating in a research report on Tuesday, September 18th. SunTrust Banks boosted their price objective on shares of argenx to $132.00 and gave the company an “in-line” rating in a research report on Tuesday, September 18th. JMP Securities boosted their price objective on shares of argenx to $150.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Finally, Stifel Nicolaus initiated coverage on shares of argenx in a research report on Thursday, September 13th. They set a “buy” rating and a $139.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. argenx has an average rating of “Buy” and an average target price of $130.50.

The stock has a market cap of $2.44 billion, a P/E ratio of -59.74 and a beta of 2.43.

A number of institutional investors and hedge funds have recently made changes to their positions in ARGX. Atria Investments LLC acquired a new position in argenx during the second quarter valued at approximately $213,000. Fred Alger Management Inc. grew its stake in shares of argenx by 50.0% during the second quarter. Fred Alger Management Inc. now owns 3,000 shares of the company’s stock worth $249,000 after buying an additional 1,000 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of argenx during the first quarter worth $498,000. Jane Street Group LLC bought a new stake in shares of argenx during the first quarter worth $619,000. Finally, Northern Trust Corp bought a new stake in shares of argenx during the first quarter worth $896,000. Institutional investors and hedge funds own 56.14% of the company’s stock.

argenx Company Profile (NASDAQ:ARGX)

argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.

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