Cetera Investment Advisers lessened its stake in argenex SE (NASDAQ:ARGX - Free Report) by 26.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,732 shares of the company's stock after selling 2,467 shares during the quarter. Cetera Investment Advisers' holdings in argenex were worth $4,916,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp increased its stake in shares of argenex by 20,977.7% in the 4th quarter. M&T Bank Corp now owns 778,610 shares of the company's stock valued at $654,772,000 after acquiring an additional 774,916 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of argenex by 80.1% during the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company's stock worth $538,408,000 after purchasing an additional 324,653 shares in the last quarter. Morgan Stanley grew its stake in argenex by 19.2% in the fourth quarter. Morgan Stanley now owns 518,852 shares of the company's stock valued at $436,331,000 after acquiring an additional 83,746 shares during the period. Invesco Ltd. increased its stake in argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company's stock worth $350,178,000 after purchasing an additional 331,489 shares in the last quarter. Finally, Sands Capital Management LLC increased its position in shares of argenex by 2,046.6% during the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company's stock worth $300,110,000 after acquiring an additional 340,245 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.
Analyst Ratings Changes
ARGX has been the subject of a number of recent research reports. Guggenheim upped their price target on argenex from $1,135.00 to $1,185.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Robert W. Baird boosted their price objective on shares of argenex from $867.00 to $932.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Citigroup increased their target price on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. HC Wainwright reissued a "buy" rating and set a $940.00 price target on shares of argenex in a research report on Thursday, June 25th. Finally, Bank of America increased their price objective on shares of argenex from $1,016.00 to $1,088.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, argenex has an average rating of "Moderate Buy" and a consensus target price of $1,056.89.
Read Our Latest Stock Analysis on ARGX
argenex Stock Down 2.7%
ARGX opened at $830.79 on Tuesday. argenex SE has a 12-month low of $631.47 and a 12-month high of $953.58. The business has a 50 day moving average of $876.15 and a 200-day moving average of $817.92. The stock has a market cap of $51.97 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.08 and a beta of 0.46.
argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. As a group, analysts expect that argenex SE will post 28.05 earnings per share for the current year.
argenex Company Profile
(
Free Report)
argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.
The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.
Further Reading
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