Royal Bank of Canada Purchases 353 Shares of argenex SE $ARGX

Royal Bank of Canada boosted its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 0.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,306 shares of the company's stock after purchasing an additional 353 shares during the quarter. Royal Bank of Canada owned approximately 0.06% of argenex worth $22,673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARGX. Ameriprise Financial Inc. boosted its position in argenex by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock valued at $4,313,000 after purchasing an additional 639 shares during the period. BNP Paribas Financial Markets boosted its position in argenex by 138.4% during the 4th quarter. BNP Paribas Financial Markets now owns 10,232 shares of the company's stock valued at $6,293,000 after purchasing an additional 5,940 shares during the period. Cetera Investment Advisers boosted its position in argenex by 27.0% during the 4th quarter. Cetera Investment Advisers now owns 4,127 shares of the company's stock valued at $2,538,000 after purchasing an additional 877 shares during the period. Ethic Inc. acquired a new position in argenex during the 4th quarter valued at approximately $756,000. Finally, Focus Partners Wealth acquired a new position in argenex during the 4th quarter valued at approximately $201,000. Institutional investors and hedge funds own 60.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded argenex from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. HC Wainwright boosted their price objective on argenex from $720.00 to $774.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wedbush reiterated an "outperform" rating and set a $800.00 price target on shares of argenex in a research report on Monday, August 25th. Morgan Stanley raised their price target on argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Wells Fargo & Company raised their price target on argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, argenex presently has an average rating of "Buy" and a consensus price target of $772.84.

argenex Price Performance

Shares of ARGX traded down $4.73 during midday trading on Friday, reaching $758.79. The stock had a trading volume of 121,522 shares, compared to its average volume of 375,232. The company has a market capitalization of $46.44 billion, a P/E ratio of 38.91, a P/E/G ratio of 0.81 and a beta of 0.41. The firm's 50 day moving average price is $645.47 and its 200-day moving average price is $606.10. argenex SE has a 52 week low of $510.05 and a 52 week high of $779.03.

argenex (NASDAQ:ARGX - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, beating 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 firm had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. On average, equities analysts forecast that argenex SE will post 3.13 earnings per share for the current 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.