Clearbridge Investments LLC lessened its position in shares of argenex SE (NASDAQ:ARGX – Free Report) by 32.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 513,764 shares of the company’s stock after selling 243,098 shares during the quarter. Clearbridge Investments LLC’s holdings in argenex were worth $432,050,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Abound Wealth Management raised its stake in shares of argenex by 3,200.0% during the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after acquiring an additional 32 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of argenex during the 4th quarter worth approximately $28,000. Ameriflex Group Inc. bought a new position in shares of argenex during the 3rd quarter worth approximately $32,000. Sunbelt Securities Inc. bought a new position in shares of argenex during the 3rd quarter worth approximately $36,000. Finally, Aventura Private Wealth LLC acquired a new stake in argenex in the fourth quarter worth about $38,000. Institutional investors own 60.32% of the company’s stock.
Analysts Set New Price Targets
ARGX has been the subject of several recent analyst reports. Royal Bank Of Canada lowered their price target on argenex from $925.00 to $890.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Wedbush reissued an “outperform” rating and issued a $1,000.00 price target on shares of argenex in a report on Thursday. Citizens Jmp raised their price target on argenex from $925.00 to $944.00 and gave the stock a “market outperform” rating in a report on Friday, February 27th. Robert W. Baird upped their price target on shares of argenex from $858.00 to $867.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Finally, Glj Research upgraded shares of argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,019.50.
argenex Trading Up 5.8%
Shares of argenex stock opened at $891.32 on Friday. argenex SE has a 12-month low of $510.05 and a 12-month high of $934.62. The firm has a market capitalization of $55.43 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 1.36 and a beta of 0.47. The firm’s 50 day simple moving average is $794.90 and its two-hundred day simple moving average is $813.42.
argenex (NASDAQ:ARGX – Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. argenex had a net margin of 31.31% and a return on equity of 33.28%. The business had revenue of $1.31 billion for the quarter. On average, sell-side analysts predict that argenex SE will post 26.25 EPS for the current fiscal year.
argenex Profile
argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.
The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.
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