Invesco Ltd. Cuts Stock Holdings in argenex SE $ARGX

Invesco Ltd. lessened its stake in argenex SE (NASDAQ:ARGX - Free Report) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 382,741 shares of the company's stock after selling 21,275 shares during the quarter. Invesco Ltd. owned approximately 0.63% of argenex worth $226,531,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ARGX. GeoWealth Management LLC raised its holdings in argenex by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after acquiring an additional 18 shares during the period. Rakuten Securities Inc. raised its holdings in argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after acquiring an additional 22 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in argenex during the 4th quarter valued at $38,000. Golden State Wealth Management LLC bought a new stake in argenex during the 1st quarter valued at $44,000. Finally, Raiffeisen Bank International AG bought a new stake in argenex during the 1st quarter valued at $76,000. Institutional investors own 60.32% of the company's stock.

argenex Stock Up 1.5%

NASDAQ:ARGX traded up $9.97 during midday trading on Monday, hitting $663.80. The company had a trading volume of 178,711 shares, compared to its average volume of 376,169. argenex SE has a 52-week low of $510.05 and a 52-week high of $696.21. The stock's fifty day moving average price is $587.10 and its 200-day moving average price is $597.10. The company has a market capitalization of $40.62 billion, a PE ratio of 34.04, a P/E/G ratio of 0.75 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.90. argenex had a net margin of 40.98% and a return on equity of 21.06%. The business had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. As a group, research analysts forecast that argenex SE will post 3.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ARGX shares. Deutsche Bank Aktiengesellschaft raised shares of argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their price target on shares of argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Baird R W upgraded shares of argenex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Robert W. Baird upgraded shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price target for the company in a research report on Tuesday, May 13th. Eighteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $746.81.

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.