Eagle Global Advisors LLC Boosts Holdings in argenex SE (NASDAQ:ARGX)

Key Points

• Eagle Global Advisors LLC increased its stake in argenex SE by 7.3%, acquiring an additional 400 shares, bringing its total holdings to 5,900 shares valued at approximately $3.49 million.
• Institutional investors own 60.32% of argenex's stock, with significant increases in holdings reported by companies like GeoWealth Management and Rakuten Securities.
• argenex reported an earnings per share of $3.74 for the last quarter, exceeding analyst expectations, with revenues reaching $866.79 million, also surpassing forecasts.

Eagle Global Advisors LLC grew its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,900 shares of the company's stock after purchasing an additional 400 shares during the period. Eagle Global Advisors LLC's holdings in argenex were worth $3,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital World Investors raised its position 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 valued at $1,099,002,000 after purchasing an additional 86,687 shares during the period. RTW Investments LP raised its position in shares of argenex by 2.9% in the fourth quarter. RTW Investments LP now owns 673,497 shares of the company's stock valued at $414,201,000 after purchasing an additional 19,067 shares during the period. Lord Abbett & CO. LLC raised its position in shares of argenex by 26.5% in the fourth quarter. Lord Abbett & CO. LLC now owns 206,202 shares of the company's stock valued at $126,814,000 after purchasing an additional 43,239 shares during the period. Marshall Wace LLP raised its position in shares of argenex by 184.7% in the fourth quarter. Marshall Wace LLP now owns 191,553 shares of the company's stock valued at $117,805,000 after purchasing an additional 124,271 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in argenex by 22.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 176,450 shares of the company's stock valued at $100,063,000 after acquiring an additional 32,239 shares in the last quarter. Institutional investors own 60.32% of the company's stock.

argenex Stock Down 0.5%

Shares of argenex stock traded down $3.13 during trading on Friday, reaching $649.30. The company's stock had a trading volume of 141,251 shares, compared to its average volume of 375,623. argenex SE has a 52-week low of $510.05 and a 52-week high of $696.21. The company has a market cap of $39.74 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 0.74 and a beta of 0.39. The firm's 50-day moving average is $585.74 and its two-hundred day moving average is $597.93.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results 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 net margin of 40.98% and a return on equity of 21.06%. The company had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. On average, equities research analysts anticipate that argenex SE will post 3.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ARGX. Wedbush reaffirmed an "outperform" rating and set a $715.00 price objective on shares of argenex in a research note on Monday, July 21st. Wells Fargo & Company boosted their price objective on shares of argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Citigroup reaffirmed a "buy" rating on shares of argenex in a research note on Wednesday, May 21st. Guggenheim boosted their price objective on shares of argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Morgan Stanley boosted their price objective on shares of argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Eighteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $746.81.

argenex 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.