Perpetual Ltd cut its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 5.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,530 shares of the company's stock after selling 6,384 shares during the quarter. Perpetual Ltd owned 0.19% of argenex worth $67,786,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Point72 Europe London LLP bought a new position in argenex during the fourth quarter valued at $5,839,000. Ameriprise Financial Inc. increased its holdings in shares of argenex by 10.0% in the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after buying an additional 639 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of argenex by 1,016.7% during the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company's stock valued at $41,000 after buying an additional 61 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of argenex by 13.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the company's stock valued at $946,000 after acquiring an additional 181 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of argenex by 1.9% in the 4th quarter. Rhumbline Advisers now owns 3,608 shares of the company's stock valued at $2,219,000 after acquiring an additional 66 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have weighed in on ARGX shares. Wells Fargo & Company boosted their price objective on argenex from $723.00 to $741.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Sanford C. Bernstein raised argenex from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. Citigroup restated a "buy" rating on shares of argenex in a research report on Wednesday, May 21st. Oppenheimer lifted their price objective on shares of argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Finally, Guggenheim cut their price objective on shares of argenex from $1,100.00 to $1,065.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $729.93.
Read Our Latest Analysis on ARGX
argenex Stock Performance
Shares of NASDAQ ARGX opened at $560.04 on Friday. argenex SE has a 52-week low of $428.76 and a 52-week high of $678.21. The firm has a market capitalization of $34.20 billion, a price-to-earnings ratio of 34.55, a PEG ratio of 1.02 and a beta of 0.39. The stock has a 50 day moving average price of $582.30 and a 200 day moving average price of $607.41.
argenex (NASDAQ:ARGX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $748.34 million. Analysts forecast that argenex SE will post 3.13 earnings per share for the current year.
argenex Profile
(
Free Report)
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.
See Also
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