Aberdeen Group plc Boosts Position in argenex SE $ARGX

Key Points

• Aberdeen Group plc increased its holdings in argenex SE by 28.8%, owning 70,293 shares worth approximately $38.75 million after purchasing an additional 15,703 shares in Q2.
• Argenex reported earnings of $3.74 per share for the last quarter, exceeding analyst expectations of $2.84, with robust revenue of $866.79 million.
• Several analysts have raised their target prices for argenex, with Morgan Stanley lifting it to $1,040.00, reflecting a positive outlook and strong buy ratings from multiple research firms.

Aberdeen Group plc raised its holdings in shares of argenex SE (NASDAQ:ARGX - Free Report) by 28.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,293 shares of the company's stock after purchasing an additional 15,703 shares during the period. Aberdeen Group plc owned 0.11% of argenex worth $38,747,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. boosted its stake in shares of argenex by 56.4% in the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after buying an additional 22 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of argenex in the first quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new stake in argenex during the first quarter worth $44,000. Brooklyn Investment Group increased its stake in argenex by 102.7% during the first quarter. Brooklyn Investment Group now owns 75 shares of the company's stock worth $44,000 after acquiring an additional 38 shares during the last quarter. Finally, Banque Transatlantique SA purchased a new stake in shares of argenex in the 1st quarter valued at $62,000. 60.32% of the stock is owned by institutional investors and hedge funds.

argenex Stock Performance

Shares of ARGX opened at $796.92 on Monday. The firm has a market capitalization of $48.77 billion, a P/E ratio of 40.87, a P/E/G ratio of 0.86 and a beta of 0.46. The company has a 50-day simple moving average of $719.96 and a 200-day simple moving average of $628.00. argenex SE has a 52 week low of $510.05 and a 52 week high of $808.43.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.90. argenex had a net margin of 40.98% and a return on equity of 21.06%. The firm had revenue of $866.79 million for the quarter, compared to analysts' expectations of $776.82 million. As a group, equities analysts forecast that argenex SE will post 3.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HC Wainwright boosted their target price on argenex from $720.00 to $774.00 and gave the company a "buy" rating in a report on Friday, August 1st. Jefferies Financial Group set a $818.00 target price on argenex and gave the company a "buy" rating in a research note on Tuesday, August 26th. Stifel Nicolaus set a $882.00 price target on argenex in a research note on Thursday, September 18th. Morgan Stanley increased their price target on argenex from $766.00 to $1,040.00 and gave the company an "overweight" rating in a report on Wednesday, October 1st. Finally, Guggenheim reaffirmed a "buy" rating and set a $1,070.00 price target on shares of argenex in a research report on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $813.32.

argenex 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.

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