Mirae Asset Global Investments Co. Ltd. Boosts Holdings in argenex SE $ARGX

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in argenex SE by 40.5%, holding a total of 4,611 shares worth approximately $2,542,000 as of the latest SEC filing.
• Recent analyst upgrades for argenex include a price target increase from $700.00 to $918.00 by Truist Financial, which also rated the stock a "buy."
• argenex SE reported a $3.74 EPS for the quarter, exceeding expectations, with a net margin of 40.98% and predicted EPS for the current year is 3.13.

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 40.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,611 shares of the company's stock after buying an additional 1,328 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in argenex were worth $2,542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. Greenleaf Trust lifted its position in shares of argenex by 3.5% in the 1st quarter. Greenleaf Trust now owns 624 shares of the company's stock worth $369,000 after purchasing an additional 21 shares during the period. Rakuten Securities Inc. lifted its position in shares of argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after purchasing an additional 22 shares during the period. Sequoia Financial Advisors LLC boosted its position in argenex by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock valued at $1,083,000 after purchasing an additional 24 shares in the last quarter. M&T Bank Corp boosted its position in argenex by 0.6% during the first quarter. M&T Bank Corp now owns 4,296 shares of the company's stock valued at $2,542,000 after purchasing an additional 27 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in argenex by 2.4% during the second quarter. Central Pacific Bank Trust Division now owns 1,278 shares of the company's stock valued at $704,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ARGX. Truist Financial raised their price objective on argenex from $700.00 to $918.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Wells Fargo & Company lifted their price target on shares of argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lowered shares of argenex from a "buy" rating to a "hold" rating in a report on Thursday, September 11th. Royal Bank Of Canada started coverage on shares of argenex in a report on Monday, August 25th. They issued an "outperform" rating and a $850.00 price target on the stock. Finally, Guggenheim restated a "buy" rating and set a $1,070.00 price objective on shares of argenex in a report on Thursday, September 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $802.90.

argenex Trading Up 1.2%

Shares of NASDAQ ARGX opened at $797.35 on Wednesday. argenex SE has a 12 month low of $510.05 and a 12 month high of $803.74. The company has a 50 day simple moving average of $710.80 and a two-hundred day simple moving average of $623.56. The stock has a market cap of $48.80 billion, a price-to-earnings ratio of 40.89, a PEG ratio of 0.86 and a beta of 0.46.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $3.74 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 analysts' expectations of $776.82 million. Analysts forecast that argenex SE will post 3.13 EPS for the current year.

argenex Company 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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