IFG Advisory LLC Takes $266,000 Position in argenex SE (NASDAQ:ARGX)

Key Points

• IFG Advisory LLC invested $266,000 in argenex SE, acquiring 450 shares during the first quarter, marking a significant institutional investment in the company.
• Shares of argenex traded down 2.2% to $674.90, with a strong market capitalization of $41.30 billion and a recent peak at $696.21.
• Wall Street analysts are optimistic about argenex, with a consensus rating of "Buy" and a target price of $746.81, indicating potential for future growth.

IFG Advisory LLC acquired a new stake in shares of argenex SE (NASDAQ:ARGX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 450 shares of the company's stock, valued at approximately $266,000.

Other large investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in argenex in the fourth quarter valued at $91,013,000. GAMMA Investing LLC boosted its stake in shares of argenex by 53,684.9% during the 1st quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock worth $802,200,000 after acquiring an additional 135,286 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of argenex by 184.7% during the 4th quarter. Marshall Wace LLP now owns 191,553 shares of the company's stock worth $117,805,000 after acquiring an additional 124,271 shares in the last quarter. Capital World Investors boosted its stake in shares of argenex by 5.1% during the 4th quarter. Capital World Investors now owns 1,786,936 shares of the company's stock worth $1,099,002,000 after acquiring an additional 86,687 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of argenex by 215.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company's stock worth $65,336,000 after acquiring an additional 75,435 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Trading Down 1.3%

ARGX stock traded down $8.82 during mid-day trading on Friday, reaching $663.54. The company's stock had a trading volume of 127,366 shares, compared to its average volume of 373,923. The stock has a market cap of $40.61 billion, a PE ratio of 33.98, a P/E/G ratio of 0.79 and a beta of 0.39. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $696.21. The company's 50 day moving average is $578.83 and its two-hundred day moving average is $597.93.

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 company had revenue of $866.79 million during the quarter, compared to the consensus estimate of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. On average, analysts forecast that argenex SE will post 3.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ARGX shares. Baird R W raised shares of argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Wedbush reissued an "outperform" rating and set a $715.00 target price on shares of argenex in a research note on Monday, July 21st. Oppenheimer increased their target price on shares of argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. increased their target price on shares of argenex from $775.00 to $830.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Morgan Stanley increased their target price on shares of argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Eighteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target 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.