Blueshift Asset Management LLC Invests $278,000 in argenex SE (NASDAQ:ARGX)

Key Points

• Blueshift Asset Management LLC has made a new investment in argenex SE, acquiring 470 shares worth approximately $278,000 during the first quarter.
• Analysts have set new price targets for argenex, with Morgan Stanley raising it to $766.00 and Guggenheim raising it to $1,070.00, indicating a positive outlook on the stock.
• For the latest quarter, argenex reported an EPS of $3.74, significantly exceeding analysts' expectations of $2.84, alongside a revenue of $866.79 million.

Blueshift Asset Management LLC purchased a new position in argenex SE (NASDAQ:ARGX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 470 shares of the company's stock, valued at approximately $278,000.

Several other institutional investors have also modified their holdings of ARGX. FMR LLC lifted its stake in shares of argenex by 17.2% in the fourth quarter. FMR LLC now owns 5,618,222 shares of the company's stock worth $3,455,207,000 after acquiring an additional 824,750 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of argenex in the fourth quarter worth about $91,013,000. GAMMA Investing LLC lifted its stake in shares of argenex by 53,684.9% in the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock worth $802,200,000 after acquiring an additional 135,286 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of argenex by 184.7% in the fourth quarter. Marshall Wace LLP now owns 191,553 shares of the company's stock worth $117,805,000 after acquiring an additional 124,271 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of argenex by 5.1% in the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company's stock worth $1,099,002,000 after acquiring an additional 86,687 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

argenex Price Performance

Shares of NASDAQ:ARGX traded down $1.35 on Tuesday, reaching $688.97. 53,972 shares of the company traded hands, compared to its average volume of 372,692. argenex SE has a fifty-two week low of $485.91 and a fifty-two week high of $696.21. The company's 50 day moving average is $573.16 and its 200-day moving average is $596.64. The stock has a market capitalization of $42.16 billion, a PE ratio of 35.36, a P/E/G ratio of 0.93 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $866.79 million during the quarter, compared to the consensus estimate of $776.82 million. As a group, analysts expect that argenex SE will post 3.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ARGX shares. Wedbush reiterated an "outperform" rating and issued a $715.00 price target on shares of argenex in a research note on Monday, July 21st. Robert W. Baird raised argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price objective for the company in a report on Tuesday, May 13th. Oppenheimer boosted their price objective on argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Morgan Stanley boosted their price objective on argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a report on Friday. Finally, HC Wainwright boosted their price objective on argenex from $720.00 to $774.00 and gave the company a "buy" rating in a report on Friday. Nineteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, argenex currently has a consensus rating of "Buy" and an average target price of $746.81.

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.