Envestnet Asset Management Inc. Buys 4,431 Shares of argenex SE (NASDAQ:ARGX)

Envestnet Asset Management Inc. increased its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,468 shares of the company's stock after acquiring an additional 4,431 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of argenex worth $47,034,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in argenex by 124.5% during the first quarter. Bank of New York Mellon Corp now owns 14,283 shares of the company's stock worth $8,454,000 after acquiring an additional 7,921 shares in the last quarter. GF Fund Management CO. LTD. raised its holdings in argenex by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 826 shares of the company's stock worth $489,000 after acquiring an additional 149 shares in the last quarter. Calamos Advisors LLC bought a new stake in argenex during the first quarter worth about $1,563,000. J.Safra Asset Management Corp raised its stake in argenex by 71.4% in the first quarter. J.Safra Asset Management Corp now owns 468 shares of the company's stock valued at $277,000 after buying an additional 195 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in argenex by 22.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 176,450 shares of the company's stock valued at $100,063,000 after buying an additional 32,239 shares during the period. Institutional investors own 60.32% of the company's stock.

Wall Street Analysts Forecast Growth

ARGX has been the topic of several research analyst reports. JMP Securities set a $699.00 price objective on argenex in a research note on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft upgraded argenex from a "hold" rating to a "buy" rating in a research note on Tuesday, July 8th. Sanford C. Bernstein upgraded argenex from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Oppenheimer increased their target price on argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Finally, Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Nineteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $728.06.

argenex Stock Performance

Shares of ARGX stock opened at $560.24 on Friday. The stock's fifty day moving average price is $567.54 and its two-hundred day moving average price is $601.83. The company has a market cap of $34.21 billion, a PE ratio of 34.56, a P/E/G ratio of 1.03 and a beta of 0.37. argenex SE has a fifty-two week low of $457.42 and a fifty-two week high of $678.21.

argenex (NASDAQ:ARGX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.26. argenex had a return on equity of 16.15% and a net margin of 40.20%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $748.34 million. On average, equities analysts predict that argenex SE will post 3.13 EPS for the current fiscal year.

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.

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