Wealth Management Associates Inc. Makes New $268,000 Investment in argenex SE $ARGX

Key Points

• Wealth Management Associates Inc. has made a new investment of $268,000 in argenex SE, acquiring 453 shares of the company.
• argenex SE's latest earnings report showed earnings per share of $3.74, surpassing expectations, with revenue of $866.79 million for the quarter.
• Analysts have a consensus rating of "Buy" for argenex, with a price target averaging around $772.84.

Wealth Management Associates Inc. purchased a new stake in shares of argenex SE (NASDAQ:ARGX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 453 shares of the company's stock, valued at approximately $268,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Europe London LLP acquired a new stake in argenex in the 4th quarter worth $5,839,000. Ameriprise Financial Inc. lifted its holdings in argenex by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock valued at $4,313,000 after purchasing an additional 639 shares during the last quarter. Sowell Financial Services LLC bought a new position in argenex during the 1st quarter valued at about $332,000. Cetera Investment Advisers raised its stake in shares of argenex by 33.1% in the first quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock worth $3,250,000 after acquiring an additional 1,364 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of argenex by 4,533.3% in the first quarter. Quantbot Technologies LP now owns 139 shares of the company's stock worth $82,000 after acquiring an additional 136 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on ARGX shares. Guggenheim lifted their price target on shares of argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. JMP Securities set a $699.00 price target on shares of argenex in a report on Wednesday, May 14th. HC Wainwright boosted 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. Morgan Stanley upped their price target 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. Finally, Jefferies Financial Group set a $818.00 price target on shares of argenex and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $772.84.

argenex Stock Performance

Shares of NASDAQ ARGX opened at $762.89 on Thursday. The company has a market capitalization of $46.69 billion, a P/E ratio of 39.12, a price-to-earnings-growth ratio of 0.82 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 $641.07 and its 200-day moving average price is $605.15.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.90. The company had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. Analysts forecast 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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