Persistent Asset Partners Ltd Makes New $1.64 Million Investment in argenex SE (NASDAQ:ARGX)

Key Points

• Persistent Asset Partners Ltd made a new investment of $1.64 million in argenex SE, acquiring 2,766 shares which now constitute about 1.4% of their investment portfolio.
• Multiple analysts have upgraded argenex's stock ratings, with price targets raised up to $1,070.00, reflecting strong investor confidence and a consensus rating of "Buy."
• After reporting an earnings per share of $3.74 for the latest quarter, argenex's stock is currently down 3.5%, despite significant revenue growth and a high net margin.

Persistent Asset Partners Ltd bought a new position in shares of argenex SE (NASDAQ:ARGX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,766 shares of the company's stock, valued at approximately $1,637,000. argenex makes up about 1.4% of Persistent Asset Partners Ltd's investment portfolio, making the stock its 20th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of ARGX. GeoWealth Management LLC lifted its position in argenex by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after purchasing an additional 18 shares during the period. Rakuten Securities Inc. lifted its position in argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after purchasing an additional 22 shares during the period. FIL Ltd bought a new stake in argenex during the fourth quarter worth about $38,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in argenex during the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC bought a new stake in argenex during the first quarter worth about $44,000. Institutional investors own 60.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. HC Wainwright boosted their price target on argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft raised argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Wedbush reissued an "outperform" rating and set a $715.00 price objective on shares of argenex in a report on Monday, July 21st. Guggenheim raised their price objective on argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Baird R W raised argenex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Eighteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, argenex has an average rating of "Buy" and a consensus price target of $746.81.

argenex Stock Down 3.5%

ARGX stock opened at $638.90 on Tuesday. The firm has a market cap of $39.10 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 0.76 and a beta of 0.39. argenex SE has a 12-month low of $510.05 and a 12-month high of $696.21. The company's fifty day simple moving average is $581.62 and its 200 day simple moving average is $597.29.

argenex (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.90. The business had revenue of $866.79 million for the quarter, compared to analyst estimates of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. Research analysts expect that argenex SE will post 3.13 earnings per share for the current year.

About argenex

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.

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