Maryland State Retirement & Pension System Acquires 2,113 Shares of argenex SE (NASDAQ:ARGX)

Key Points

• The Maryland State Retirement & Pension System increased its holdings in argenex SE by 60.2%, acquiring an additional 2,113 shares in the first quarter, bringing its total to 5,623 shares valued at approximately $3.3 million.
• Deutsche Bank upgraded argenex from a "hold" to a "buy" rating, with various analysts increasing their target prices to as high as $830, indicating strong investor confidence.
• Argonex reported earnings of $3.74 EPS for the last quarter, significantly exceeding expectations, with revenues of $866.79 million compared to estimates of $776.82 million.

Maryland State Retirement & Pension System increased its holdings in shares of argenex SE (NASDAQ:ARGX - Free Report) by 60.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,623 shares of the company's stock after purchasing an additional 2,113 shares during the period. Maryland State Retirement & Pension System's holdings in argenex were worth $3,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Europe London LLP bought a new position in shares of argenex during the fourth quarter valued at approximately $5,839,000. Ameriprise Financial Inc. lifted its position in argenex by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock valued at $4,313,000 after acquiring an additional 639 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in argenex during the first quarter valued at approximately $332,000. Dimensional Fund Advisors LP lifted its position in argenex by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock valued at $15,332,000 after acquiring an additional 4,445 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in argenex by 33.1% during the first quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock valued at $3,250,000 after acquiring an additional 1,364 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of argenex from a "hold" rating to a "buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their target price on shares of argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research report on Monday. Citigroup reissued a "buy" rating on shares of argenex in a research report on Wednesday, May 21st. HC Wainwright raised their price target on shares of argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Robert W. Baird raised shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price target for the company in a report on Tuesday, May 13th. Eighteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $746.81.

argenex Price Performance

Shares of argenex stock opened at $672.35 on Friday. The firm has a fifty day moving average price of $578.83 and a 200 day moving average price of $597.93. argenex SE has a 1 year low of $500.24 and a 1 year high of $696.21. The stock has a market cap of $41.15 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 0.79 and a beta of 0.39.

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

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