Voya Investment Management LLC Boosts Holdings in argenex SE $ARGX

Key Points

• Voya Investment Management LLC increased its stake in argenex SE by 5.2%, purchasing an additional 735 shares, bringing its total holdings to 14,905 shares valued at $8.82 million.
• Analysts have raised their price targets for argenex, with Bank of America increasing it to $887, and Morgan Stanley to $766, while the stock currently has a consensus rating of "Buy."
• argenex reported strong quarterly earnings with an EPS of $3.74, exceeding estimates of $2.84, and total revenue of $866.79 million against a forecast of $776.82 million.

Voya Investment Management LLC lifted its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,905 shares of the company's stock after acquiring an additional 735 shares during the period. Voya Investment Management LLC's holdings in argenex were worth $8,822,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Rakuten Securities Inc. grew its position in argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after buying an additional 22 shares during the period. WPG Advisers LLC bought a new position in argenex during the first quarter valued at about $37,000. Golden State Wealth Management LLC bought a new position in argenex during the first quarter valued at about $44,000. Brooklyn Investment Group grew its position in argenex by 102.7% during the first quarter. Brooklyn Investment Group now owns 75 shares of the company's stock valued at $44,000 after buying an additional 38 shares during the period. Finally, Banque Transatlantique SA bought a new position in argenex during the first quarter valued at about $62,000. Institutional investors and hedge funds own 60.32% of the company's stock.

argenex Stock Performance

ARGX traded up $4.99 on Friday, reaching $736.76. The company had a trading volume of 730,390 shares, compared to its average volume of 367,879. The company has a market cap of $45.09 billion, a price-to-earnings ratio of 37.78, a P/E/G ratio of 0.80 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 business has a 50 day simple moving average of $668.71 and a 200 day simple moving average of $611.12.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly 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. argenex had a net margin of 40.98% and a return on equity of 21.06%. The firm had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. As a group, equities research analysts predict that argenex SE will post 3.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Stifel Nicolaus set a $882.00 price target on shares of argenex in a research report on Thursday. Morgan Stanley increased their target price 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. Wells Fargo & Company increased their target price 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. Deutsche Bank Aktiengesellschaft lowered shares of argenex from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Finally, Truist Financial raised their price objective on shares of argenex from $700.00 to $918.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, argenex presently has a consensus rating of "Buy" and a consensus target price of $789.20.

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.