PGGM Investments Grows Holdings in argenex SE $ARGX

Key Points

• PGGM Investments increased its holdings in argenex SE by 57.2%, owning 76,699 shares worth approximately $42.28 million at the end of the second quarter.
• Multiple institutional investors, such as Millennium Management and BNP Paribas Financial Markets, significantly raised their positions in argenex during the first quarter of the year, reflecting strong investor interest.
• Equities analysts have raised their price targets for argenex, with Morgan Stanley increasing its target from $700.00 to $766.00 and several other firms maintaining a consensus rating of "Buy" with a target price of $789.20.

PGGM Investments boosted its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 57.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,699 shares of the company's stock after purchasing an additional 27,900 shares during the quarter. PGGM Investments owned about 0.13% of argenex worth $42,278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARGX. Millennium Management LLC raised its position in argenex by 316.9% in the 1st quarter. Millennium Management LLC now owns 268,604 shares of the company's stock valued at $158,977,000 after purchasing an additional 204,180 shares during the last quarter. BNP Paribas Financial Markets raised its position in argenex by 1,203.4% in the 1st quarter. BNP Paribas Financial Markets now owns 133,359 shares of the company's stock valued at $78,931,000 after purchasing an additional 123,127 shares during the last quarter. Braidwell LP raised its position in argenex by 99.2% in the 1st quarter. Braidwell LP now owns 160,849 shares of the company's stock valued at $95,201,000 after purchasing an additional 80,083 shares during the last quarter. Assenagon Asset Management S.A. raised its position in argenex by 215.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company's stock valued at $65,336,000 after purchasing an additional 75,435 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in argenex by 33.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company's stock valued at $162,585,000 after purchasing an additional 68,498 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley upped their price objective on shares of argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wedbush restated an "outperform" rating and set a $800.00 price objective on shares of argenex in a research report on Monday, August 25th. HC Wainwright upped their price objective on shares of argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Truist Financial upped their price objective on shares of argenex from $700.00 to $918.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company upped their price objective on shares of argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $789.20.

argenex Trading Up 2.6%

Shares of NASDAQ ARGX opened at $737.56 on Wednesday. The stock has a market cap of $45.14 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 0.78 and a beta of 0.41. argenex SE has a 52 week low of $510.05 and a 52 week high of $779.03. The company's 50-day moving average price is $690.98 and its 200 day moving average price is $617.52.

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

argenex Company 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.

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