Navellier & Associates Inc. Acquires New Position in argenex SE (NASDAQ:ARGX)

Key Points

• Navellier & Associates Inc. has acquired a new position in argenex SE by purchasing 6,725 shares valued at approximately $4,416,000.
• Institutional investors collectively hold 60.32% of argenex's stock, with several firms significantly increasing their positions in the first quarter.
• argenex SE reported a better-than-expected earnings per share of $2.58, exceeding the consensus estimate of $2.32, with a revenue of $1.35 billion for the quarter.

Navellier & Associates Inc. bought a new position in shares of argenex SE (NASDAQ:ARGX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,725 shares of the company's stock, valued at approximately $4,416,000.

A number of other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers raised its position in argenex by 33.1% in the 1st quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock valued at $3,250,000 after buying an additional 1,364 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its position in argenex by 181.9% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 327 shares of the company's stock valued at $194,000 after buying an additional 211 shares during the last quarter. Advisors Preferred LLC raised its position in argenex by 187.3% in the 1st quarter. Advisors Preferred LLC now owns 339 shares of the company's stock valued at $192,000 after buying an additional 221 shares during the last quarter. Wealth Alliance LLC raised its position in argenex by 14.9% in the 1st quarter. Wealth Alliance LLC now owns 757 shares of the company's stock valued at $448,000 after buying an additional 98 shares during the last quarter. Finally, Morse Asset Management Inc raised its position in argenex by 98.0% in the 1st quarter. Morse Asset Management Inc now owns 495 shares of the company's stock valued at $293,000 after buying an additional 245 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenex Stock Performance

NASDAQ ARGX traded up $0.25 during trading hours on Friday, hitting $591.99. The company had a trading volume of 493,117 shares, compared to its average volume of 430,326. argenex SE has a 52 week low of $473.67 and a 52 week high of $678.21. The firm has a 50 day simple moving average of $566.05 and a 200 day simple moving average of $598.66. The firm has a market capitalization of $36.23 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 1.03 and a beta of 0.37.

argenex (NASDAQ:ARGX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.32 by $0.26. argenex had a return on equity of 16.15% and a net margin of 40.20%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $748.34 million. On average, research analysts forecast that argenex SE will post 3.13 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on ARGX. Deutsche Bank Aktiengesellschaft raised argenex from a "hold" rating to a "buy" rating in a research report on Tuesday, July 8th. Citigroup restated a "buy" rating on shares of argenex in a research note on Wednesday, May 21st. Oppenheimer upped their price objective on argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Robert W. Baird upgraded argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price objective for the company in a research note on Tuesday, May 13th. Nineteen 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 currently has a consensus rating of "Buy" and a consensus price target of $728.06.

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.