OMERS ADMINISTRATION Corp Takes $2.90 Million Position in argenex SE $ARGX

Key Points

• OMERS ADMINISTRATION Corp purchased 4,900 shares of argenex SE, valued at approximately $2.9 million, indicating strong institutional interest in the company.
• argenex reported earnings of $3.74 per share, surpassing estimates, with a net margin of 40.98% and total revenue of $866.79 million for the quarter.
• Major brokerages have issued positive ratings on argenex, with a consensus average price target of $766.50 reflecting strong buy recommendations from analysts.

OMERS ADMINISTRATION Corp bought a new position in argenex SE (NASDAQ:ARGX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 4,900 shares of the company's stock, valued at approximately $2,900,000.

Several other hedge funds have also made changes to their positions in ARGX. Dimensional Fund Advisors LP lifted its holdings in shares of argenex by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock worth $15,332,000 after buying an additional 4,445 shares during the period. Coldstream Capital Management Inc. purchased a new stake in shares of argenex in the 4th quarter worth $205,000. Northern Trust Corp lifted its holdings in shares of argenex by 42.7% in the 4th quarter. Northern Trust Corp now owns 54,128 shares of the company's stock worth $33,289,000 after buying an additional 16,188 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of argenex in the 4th quarter worth $3,301,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of argenex in the 4th quarter worth $17,158,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Price Performance

argenex stock traded up $11.65 during midday trading on Thursday, reaching $733.66. The company's stock had a trading volume of 544,073 shares, compared to its average volume of 354,959. The stock's 50-day simple moving average is $624.07 and its 200-day simple moving average is $601.86. argenex SE has a 52-week low of $510.05 and a 52-week high of $742.52. The stock has a market capitalization of $44.90 billion, a P/E ratio of 37.62, a PEG ratio of 0.76 and a beta of 0.41.

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 analysts' consensus estimates of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%.The company had revenue of $866.79 million during the quarter, compared to analysts' expectations of $776.82 million. As a group, equities research analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARGX has been the subject of several research reports. JMP Securities set a $699.00 target price on argenex in a report on Wednesday, May 14th. Wells Fargo & Company upped their price objective on argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Morgan Stanley upped their price objective on argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada began coverage on argenex in a research note on Monday, August 25th. They set an "outperform" rating and a $850.00 price objective for the company. Finally, Wedbush restated an "outperform" rating and set a $800.00 price objective on shares of argenex in a research note on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $772.84.

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.