Allianz Asset Management GmbH Sells 1,054 Shares of argenex SE (NASDAQ:ARGX)

Key Points

• Allianz Asset Management GmbH has reduced its stake in argenex SE by 29.3%, owning 2,546 shares valued at approximately $1.5 million after selling 1,054 shares in the first quarter.
• Research analysts have generally rated argenex as a "buy," with a consensus target price of $728.06, noting recent adjustments by various firms including Guggenheim and Oppenheimer.
• The company reported earnings of $2.58 per share for the last quarter, surpassing expectations, with revenues reaching $1.35 billion against analyst estimates of $748.34 million.

Allianz Asset Management GmbH trimmed its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 29.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,546 shares of the company's stock after selling 1,054 shares during the quarter. Allianz Asset Management GmbH's holdings in argenex were worth $1,507,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wealth Alliance LLC grew its position in argenex by 14.9% during the 1st quarter. Wealth Alliance LLC now owns 757 shares of the company's stock valued at $448,000 after purchasing an additional 98 shares during the last quarter. Morse Asset Management Inc grew its stake in shares of argenex by 98.0% in the first quarter. Morse Asset Management Inc now owns 495 shares of the company's stock worth $293,000 after acquiring an additional 245 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of argenex by 95.6% in the first quarter. Cullen Frost Bankers Inc. now owns 133 shares of the company's stock worth $79,000 after acquiring an additional 65 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in shares of argenex in the first quarter worth approximately $533,000. Finally, TimesSquare Capital Management LLC grew its stake in shares of argenex by 0.8% in the first quarter. TimesSquare Capital Management LLC now owns 125,295 shares of the company's stock worth $74,158,000 after acquiring an additional 1,050 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ARGX shares. Deutsche Bank Aktiengesellschaft upgraded shares of argenex from a "hold" rating to a "buy" rating in a research note on Tuesday, July 8th. Guggenheim lifted their price target on shares of argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a research note on Friday. Oppenheimer lifted their price target on shares of argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Baird R W upgraded shares of argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Citigroup reissued a "buy" rating on shares of argenex in a report on Wednesday, May 21st. Nineteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, argenex has a consensus rating of "Buy" and an average target price of $736.81.

argenex Trading Up 0.5%

NASDAQ ARGX traded up $3.47 on Friday, reaching $673.80. 633,642 shares of the stock were exchanged, compared to its average volume of 414,608. The firm has a market capitalization of $41.24 billion, a PE ratio of 72.53, a PEG ratio of 1.21 and a beta of 0.39. argenex SE has a one year low of $475.65 and a one year high of $689.13. The company's 50-day simple moving average is $571.11 and its two-hundred day simple moving average is $597.21.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.90. The firm had revenue of $866.79 million for the quarter, compared to analysts' expectations of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 33.30%. Sell-side analysts forecast that argenex SE will post 3.13 earnings per share for the current fiscal year.

About argenex

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.