TD Asset Management Inc Has $66.17 Million Position in argenex SE $ARGX

Key Points

• TD Asset Management Inc has reduced its holdings in argenex SE by 14.6%, now owning 120,042 shares valued at approximately $66.17 million.
• Several research analysts have set positive price targets for argenex, with estimates ranging from $820.00 to $1,070.00, indicating strong investor confidence.
• argenex reported earnings of $3.74 per share for the last quarter, exceeding analysts' expectations, and achieved a revenue of $866.79 million, surpassing the forecast of $776.82 million.

TD Asset Management Inc cut its position in argenex SE (NASDAQ:ARGX - Free Report) by 14.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,042 shares of the company's stock after selling 20,533 shares during the quarter. TD Asset Management Inc owned about 0.20% of argenex worth $66,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARGX. Janney Montgomery Scott LLC lifted its holdings in shares of argenex by 41.6% during the first quarter. Janney Montgomery Scott LLC now owns 1,141 shares of the company's stock worth $675,000 after buying an additional 335 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of argenex in the first quarter valued at about $332,000. Rakuten Securities Inc. increased 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 acquiring an additional 22 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in argenex in the 1st quarter worth about $583,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in argenex by 10.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 915 shares of the company's stock valued at $542,000 after purchasing an additional 85 shares during the period. 60.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on ARGX shares. Guggenheim reaffirmed a "buy" rating and set a $1,070.00 target price on shares of argenex in a report on Thursday, September 18th. Piper Sandler increased their price target on argenex from $750.00 to $820.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Bank of America lifted their price objective on argenex from $880.00 to $887.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. increased their target price on argenex from $775.00 to $830.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Stifel Nicolaus set a $882.00 price target on argenex in a research note on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $817.53.

argenex Stock Up 0.3%

Shares of ARGX stock opened at $815.61 on Thursday. The business has a fifty day simple moving average of $727.75 and a 200 day simple moving average of $632.02. The company has a market cap of $49.92 billion, a P/E ratio of 41.83, a P/E/G ratio of 0.87 and a beta of 0.46. argenex SE has a twelve month low of $510.05 and a twelve month high of $819.71.

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

argenex 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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