Sivik Global Healthcare LLC Makes New Investment in argenex SE $ARGX

Key Points

• Sivik Global Healthcare LLC initiated a position in argenex, buying 2,000 shares valued at approximately $1.918 million during the third quarter. Institutional investors and hedge funds collectively own 60.32% of the company.
• argenex reported quarterly earnings of $7.32 per share, exceeding analysts’ $5.86 estimate, while revenue of $1.54 billion also surpassed expectations.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $1,155.05, despite the stock recently trading at $803.08.

Sivik Global Healthcare LLC purchased a new position in argenex SE (NASDAQ:ARGX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,000 shares of the company's stock, valued at approximately $1,918,000.

Other hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in shares of argenex during the first quarter worth approximately $28,000. Eastern Bank acquired a new stake in argenex in the second quarter worth about $32,000. Axiom Investment Management LLC bought a new stake in argenex during the 1st quarter worth about $50,000. WPG Advisers LLC lifted its position in argenex by 17.8% during the 1st quarter. WPG Advisers LLC now owns 86 shares of the company's stock valued at $63,000 after purchasing an additional 13 shares during the period. Finally, Fifth Third Bancorp lifted its position in argenex by 616.7% during the 1st quarter. Fifth Third Bancorp now owns 172 shares of the company's stock valued at $126,000 after purchasing an additional 148 shares during the period. Institutional investors and hedge funds own 60.32% of the company's stock.

argenex Price Performance

Shares of argenex stock traded down $9.22 during trading on Tuesday, hitting $803.08. 141,913 shares of the company were exchanged, compared to its average volume of 344,708. The firm has a market capitalization of $50.24 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 0.86 and a beta of 0.44. argenex SE has a 1-year low of $661.85 and a 1-year high of $1,072.75. The firm's fifty day moving average price is $959.56 and its 200 day moving average price is $878.44.

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, beating analysts' consensus estimates of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.45 billion. As a group, equities research analysts anticipate that argenex SE will post 28.83 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of argenex from $1,025.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday, August 18th. Truist Financial boosted their price target on shares of argenex from $1,030.00 to $1,095.00 and gave the stock a "buy" rating in a research note on Tuesday, August 18th. UBS Group upgraded shares of argenex from a "neutral" rating to a "buy" rating and increased their price objective for the company from $960.00 to $1,400.00 in a report on Wednesday, August 26th. Oppenheimer reduced their price objective on shares of argenex from $1,100.00 to $1,038.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, Piper Sandler raised their price objective on shares of argenex from $1,075.00 to $1,215.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,155.05.

About argenex

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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