FORA Capital LLC Acquires New Shares in argenex SE $ARGX

Key Points

• FORA Capital LLC made a new investment of approximately $872,000 in argenex SE, acquiring 1,473 shares during the first quarter of the year.
• Over 60% of argenex's stock is held by institutional investors, with various recent investments indicating growing interest in the company.
• Analysts have largely favorable views of argenex, with multiple upgrades and an average consensus rating of "Buy" alongside a target price of $763.47.

FORA Capital LLC purchased a new stake in argenex SE (NASDAQ:ARGX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,473 shares of the company's stock, valued at approximately $872,000.

Several other institutional investors have also bought and sold shares of the stock. Rakuten Securities Inc. boosted its stake in argenex by 56.4% in the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after purchasing an additional 22 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in argenex in the fourth quarter worth $38,000. Golden State Wealth Management LLC acquired a new position in argenex in the first quarter worth $44,000. Brooklyn Investment Group boosted its stake in argenex by 102.7% in the first quarter. Brooklyn Investment Group now owns 75 shares of the company's stock worth $44,000 after purchasing an additional 38 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in argenex in the first quarter worth $76,000. Institutional investors and hedge funds own 60.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ARGX shares. Oppenheimer boosted their price objective on argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Citigroup reissued a "buy" rating on shares of argenex in a research note on Wednesday, May 21st. Robert W. Baird raised argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price objective on the stock in a research note on Tuesday, May 13th. Royal Bank Of Canada initiated coverage on argenex in a research report on Monday, August 25th. They set an "outperform" rating and a $850.00 target price for the company. Finally, Jefferies Financial Group set a $818.00 target price on argenex and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $772.84.

argenex Price Performance

Shares of ARGX stock traded down $6.92 on Tuesday, reaching $705.29. 76,098 shares of the stock were exchanged, compared to its average volume of 373,272. The stock has a 50 day moving average price of $614.60 and a 200 day moving average price of $599.63. The stock has a market cap of $43.16 billion, a PE ratio of 36.20, a P/E/G ratio of 0.81 and a beta of 0.41. argenex SE has a one year low of $510.05 and a one year high of $716.62.

argenex (NASDAQ:ARGX - Get Free Report) last released 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. The business had revenue of $866.79 million during the quarter, compared to the consensus estimate of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. On average, research analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal year.

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.