Royal Bank of Canada Grows Stock Position in argenex SE $ARGX

Royal Bank of Canada raised its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,306 shares of the company's stock after buying an additional 353 shares during the quarter. Royal Bank of Canada owned about 0.06% of argenex worth $22,673,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Point72 Europe London LLP purchased a new position in shares of argenex in the 4th quarter worth about $5,839,000. Ameriprise Financial Inc. raised its position in shares of argenex by 10.0% in the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after purchasing an additional 639 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of argenex in the 1st quarter worth about $332,000. Cetera Investment Advisers raised its position in shares of argenex by 33.1% in the 1st quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock worth $3,250,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in shares of argenex by 4,533.3% in the 1st quarter. Quantbot Technologies LP now owns 139 shares of the company's stock worth $82,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ARGX shares. Jefferies Financial Group set a $818.00 price objective on argenex and gave the stock a "buy" rating in a report on Tuesday, August 26th. Wells Fargo & Company lifted their price objective on argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wall Street Zen upgraded argenex from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. JPMorgan Chase & Co. boosted their price target on argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Royal Bank Of Canada assumed coverage on argenex in a research note on Monday, August 25th. They set an "outperform" rating and a $850.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, argenex presently has a consensus rating of "Buy" and a consensus target price of $772.84.

argenex Stock Down 0.9%

NASDAQ ARGX traded down $7.14 during trading hours on Friday, reaching $756.38. The company's stock had a trading volume of 339,273 shares, compared to its average volume of 354,777. The firm's 50-day moving average price is $649.73 and its 200-day moving average price is $606.90. argenex SE has a 1 year low of $510.05 and a 1 year high of $779.03. The company has a market capitalization of $46.29 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 0.81 and a beta of 0.41.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%.The company had revenue of $866.79 million for the quarter, compared to analysts' expectations of $776.82 million. Equities research analysts anticipate that argenex SE will post 3.13 EPS for the current fiscal year.

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.