Cetera Investment Advisers Raises Position in argenex SE (NASDAQ:ARGX)

Key Points

• Cetera Investment Advisers increased its stake in argenex SE by 33.1% in Q1, owning 5,491 shares valued at $3.25 million.
• Institutions currently hold 60.32% of argenex's stock, with several firms making notable increases in their positions recently.
• argenex reported $3.74 earnings per share for the last quarter, significantly surpassing analyst expectations of $2.84, alongside a revenue of $866.79 million versus a forecast of $776.82 million.

Cetera Investment Advisers raised its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 33.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,491 shares of the company's stock after purchasing an additional 1,364 shares during the period. Cetera Investment Advisers' holdings in argenex were worth $3,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GeoWealth Management LLC grew its position in shares of argenex by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after buying an additional 18 shares during the period. Rakuten Securities Inc. lifted its stake in shares of argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after purchasing an additional 22 shares during the period. FIL Ltd bought a new position in shares of argenex in the 4th quarter worth approximately $38,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of argenex in the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC bought a new position in shares of argenex in the first quarter worth approximately $44,000. 60.32% of the stock is owned by institutional investors.

argenex Trading Down 2.2%

Shares of NASDAQ ARGX opened at $674.90 on Wednesday. The stock's 50 day simple moving average is $575.07 and its 200 day simple moving average is $597.18. The company has a market cap of $41.30 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 0.86 and a beta of 0.39. argenex SE has a 12-month low of $485.91 and a 12-month high of $696.21.

argenex (NASDAQ:ARGX - Get Free Report) last announced 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 the consensus estimate of $776.82 million. As a group, equities analysts forecast that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wedbush reaffirmed an "outperform" rating and set a $715.00 price objective on shares of argenex in a report on Monday, July 21st. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Guggenheim lifted their price objective on argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a report on Friday, August 1st. JMP Securities set a $699.00 target price on argenex in a research note on Wednesday, May 14th. Finally, 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. Nineteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target 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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