argenex SE (NASDAQ:ARGX) Stake Raised by LPL Financial LLC

Key Points

• LPL Financial LLC has increased its stake in argenex SE by 28.0%, owning a total of 20,880 shares valued at approximately $12.36 million.
• argenex recently reported earnings with $3.74 earnings per share, exceeding estimates, and projected a current year EPS of 3.13.
• Analysts are optimistic about argenex, with several adjusting target prices upwards, including a new high of $1,070 from Guggenheim and an average target price of $746.81.

LPL Financial LLC boosted its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 28.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,880 shares of the company's stock after acquiring an additional 4,563 shares during the quarter. LPL Financial LLC's holdings in argenex were worth $12,358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. raised its position in argenex by 5.6% in the first quarter. Pacer Advisors Inc. now owns 833 shares of the company's stock worth $493,000 after acquiring an additional 44 shares in the last quarter. Assetmark Inc. raised its position in argenex by 3.2% in the first quarter. Assetmark Inc. now owns 8,926 shares of the company's stock worth $5,283,000 after acquiring an additional 278 shares in the last quarter. Navellier & Associates Inc. acquired a new stake in shares of argenex during the first quarter valued at approximately $4,416,000. Cetera Investment Advisers lifted its holdings in shares of argenex by 33.1% in the first quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock valued at $3,250,000 after purchasing an additional 1,364 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its position in argenex by 181.9% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 327 shares of the company's stock worth $194,000 after acquiring an additional 211 shares during the period. 60.32% of the stock is currently owned by institutional investors.

argenex Trading Down 0.1%

NASDAQ:ARGX opened at $672.35 on Friday. argenex SE has a 1-year low of $500.24 and a 1-year high of $696.21. The business's 50-day moving average price is $578.83 and its two-hundred day moving average price is $597.93. The firm has a market capitalization of $41.15 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 0.79 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $776.82 million. Sell-side analysts predict that argenex SE will post 3.13 earnings per share for the current year.

Analysts Set New Price Targets

ARGX has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their target price on argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research note on Monday. Guggenheim upped their target price on argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research note on Friday, August 1st. JMP Securities set a $699.00 target price on argenex in a research note on Wednesday, May 14th. Morgan Stanley upped their target price on argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Citigroup restated a "buy" rating on shares of argenex in a research note on Wednesday, May 21st. Eighteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $746.81.

argenex Company 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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