Sanders Morris Harris LLC Purchases New Shares in argenex SE $ARGX

Key Points

• Sanders Morris Harris LLC purchased 1,830 shares of argenx SE in the third quarter, valued at approximately $1.76 million. Institutional investors and hedge funds collectively own 60.32% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,151.95; recent targets range from $823 to $1,250.
• argenx reported quarterly earnings of $7.32 per share, exceeding estimates by $1.46, while revenue reached $1.54 billion. Shares recently traded at $818.30, below their 12-month high of $1,072.75.

Sanders Morris Harris LLC purchased a new position in shares of argenex SE (NASDAQ:ARGX - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,830 shares of the company's stock, valued at approximately $1,755,000.

Other hedge funds have also recently modified their holdings of the company. Tidal Investments LLC raised its stake in shares of argenex by 97.8% during the 2nd quarter. Tidal Investments LLC now owns 2,362 shares of the company's stock worth $2,191,000 after buying an additional 1,168 shares during the last quarter. Squarepoint Ops LLC raised its position in argenex by 314.8% during the second quarter. Squarepoint Ops LLC now owns 58,400 shares of the company's stock worth $54,182,000 after acquiring an additional 44,321 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in argenex during the second quarter worth about $27,584,000. Optiver Holding B.V. lifted its holdings in shares of argenex by 907.0% in the first quarter. Optiver Holding B.V. now owns 10,110 shares of the company's stock valued at $7,383,000 after purchasing an additional 9,106 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of argenex by 3.4% in the first quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company's stock valued at $1,847,592,000 after purchasing an additional 83,568 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARGX has been the topic of several research reports. Piper Sandler increased their price target on shares of argenex from $1,075.00 to $1,215.00 and gave the company an "overweight" rating in a research report on Monday, August 17th. Morgan Stanley lifted their price objective on argenex from $1,230.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Monday, August 31st. Robert W. Baird reduced their target price on argenex from $932.00 to $823.00 and set a "neutral" rating on the stock in a research note on Friday, October 9th. DZ Bank reiterated a "buy" rating on shares of argenex in a report on Friday, October 9th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of argenex in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, argenex has a consensus rating of "Moderate Buy" and an average price target of $1,151.95.

argenex Price Performance

NASDAQ:ARGX traded up $15.66 on Wednesday, reaching $818.30. The stock had a trading volume of 464,115 shares, compared to its average volume of 346,021. argenex SE has a 12-month low of $661.85 and a 12-month high of $1,072.75. The company has a market cap of $51.19 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 0.85 and a beta of 0.44. The firm's fifty day moving average is $958.72 and its two-hundred day moving average is $879.19.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping analysts' consensus estimates of $5.86 by $1.46. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. As a group, research analysts forecast that argenex SE will post 28.71 earnings per share for the current fiscal year.

argenex Profile

argenx SE NASDAQ: ARGX is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx's leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).

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