Park Avenue Securities LLC Buys 1,505 Shares of argenex SE $ARGX

Key Points

• Park Avenue Securities increased its argenx stake by 157.4% in the third quarter, purchasing 1,505 additional shares for a total holding valued at approximately $2.36 million. Other institutional investors also added or initiated positions, with institutions collectively owning 60.32% of the stock.
• argenx reported quarterly EPS of $7.80, exceeding the $7.44 consensus estimate, on revenue of $1.75 billion. The company posted a 31.66% net margin and 47.70% return on equity.
• ARGX shares opened at $892.87, down 0.6%, while analysts maintained a generally positive outlook: the stock carries a “Moderate Buy” consensus rating and an average price target of $1,158.76.

Park Avenue Securities LLC increased its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 157.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,461 shares of the company's stock after purchasing an additional 1,505 shares during the period. Park Avenue Securities LLC's holdings in argenex were worth $2,360,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Sigma Planning Corp purchased a new stake in argenex in the third quarter valued at approximately $1,027,000. Signaturefd LLC lifted its stake in argenex by 2.6% during the third quarter. Signaturefd LLC now owns 2,129 shares of the company's stock worth $2,041,000 after purchasing an additional 54 shares in the last quarter. BG Investment Services LLC acquired a new position in argenex during the third quarter worth $1,397,000. Sowell Financial Services LLC boosted its position in shares of argenex by 25.8% during the third quarter. Sowell Financial Services LLC now owns 459 shares of the company's stock worth $440,000 after buying an additional 94 shares during the period. Finally, Guardian Partners Inc. purchased a new position in shares of argenex during the third quarter worth $863,000. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Trading Down 0.6%

Shares of NASDAQ:ARGX opened at $892.87 on Friday. argenex SE has a 52 week low of $661.85 and a 52 week high of $1,072.75. The company's 50 day moving average is $943.61 and its two-hundred day moving average is $854.82. The company has a market cap of $56.15 billion, a PE ratio of 31.15, a P/E/G ratio of 0.82 and a beta of 0.44.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Friday, October 23rd. The company reported $7.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.44 by $0.36. The business had revenue of $1.75 billion during the quarter. argenex had a net margin of 31.66% and a return on equity of 47.70%. As a group, equities research analysts expect that argenex SE will post 28.63 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ARGX. Robert W. Baird lifted their price objective on argenex from $823.00 to $861.00 and gave the company a "neutral" rating in a research note on Friday, October 23rd. Morgan Stanley increased their target price on argenex from $1,140.00 to $1,190.00 and gave the stock an "overweight" rating in a research note on Friday, October 23rd. Deutsche Bank Aktiengesellschaft restated a "neutral" rating on shares of argenex in a report on Friday, October 9th. Guggenheim lowered their target price on argenex from $1,185.00 to $1,120.00 and set a "buy" rating for the company in a report on Friday, October 23rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of argenex in a research report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, argenex currently has an average rating of "Moderate Buy" and an average target price of $1,158.76.

argenex Company Profile

argenx SE NASDAQ: ARGX is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company uses its antibody engineering capabilities to discover and advance medicines designed to target disease-causing immune mechanisms.

argenx's lead product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce levels of disease-causing immunoglobulin G antibodies. VYVGART is approved in several markets for the treatment of generalized myasthenia gravis.

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