Peregrine Capital Management LLC Purchases New Holdings in argenex SE $ARGX

Key Points

• Peregrine Capital Management acquired 29,732 shares of argenx valued at approximately $27.6 million, making ARGX its 20th-largest holding and representing 0.9% of its portfolio. Institutional investors and hedge funds collectively own 60.32% of the company.
• argenx reported quarterly EPS of $7.32, beating estimates of $5.86, while revenue reached $1.54 billion versus expectations of $1.45 billion. The company posted a 43.59% return on equity and a 32.19% net margin.
• Analysts maintain a Moderate Buy consensus on ARGX, with a consensus price target of $1,056.89 compared with the stock’s reported $876 price; several firms recently raised their targets.

Peregrine Capital Management LLC acquired a new stake in shares of argenex SE (NASDAQ:ARGX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 29,732 shares of the company's stock, valued at approximately $27,584,000. argenex comprises 0.9% of Peregrine Capital Management LLC's portfolio, making the stock its 20th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Eastern Bank purchased a new position in shares of argenex in the 2nd quarter valued at approximately $32,000. Whipplewood Advisors LLC purchased a new stake in shares of argenex during the first quarter worth approximately $28,000. Sunbelt Securities Inc. purchased a new stake in shares of argenex during the third quarter worth approximately $36,000. Axiom Investment Management LLC acquired a new stake in shares of argenex during the first quarter worth $50,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of argenex by 268.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 81 shares of the company's stock worth $68,000 after purchasing an additional 59 shares during the period. 60.32% of the stock is owned by institutional investors and hedge funds.

argenex Trading Up 1.3%

Shares of argenex stock opened at $876.00 on Thursday. The company has a 50-day moving average of $882.24 and a two-hundred day moving average of $820.70. argenex SE has a 12-month low of $637.04 and a 12-month high of $953.58. The stock has a market cap of $54.80 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping the consensus estimate of $5.86 by $1.46. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. On average, sell-side analysts forecast that argenex SE will post 28.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on ARGX. Wedbush boosted their price objective on shares of argenex from $1,000.00 to $1,050.00 and gave the company an "outperform" rating in a research note on Tuesday, July 28th. Citigroup boosted their price target on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Morgan Stanley raised their price objective on shares of argenex from $1,170.00 to $1,180.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Robert W. Baird boosted their target price on argenex from $867.00 to $932.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Finally, Wells Fargo & Company increased their target price on argenex from $1,260.00 to $1,291.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, argenex has an average rating of "Moderate Buy" and a consensus price target of $1,056.89.

About argenex

argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

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