Royal Bank of Canada lessened its position in shares of argenex SE (NASDAQ:ARGX – Free Report) by 7.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,917 shares of the company’s stock after selling 2,743 shares during the period. Royal Bank of Canada owned approximately 0.05% of argenex worth $24,036,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. M&T Bank Corp increased its holdings in shares of argenex by 20,977.7% in the fourth quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock worth $654,772,000 after purchasing an additional 774,916 shares during the period. Wellington Management Group LLP boosted its stake in argenex by 80.1% during the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after buying an additional 324,653 shares during the period. Morgan Stanley grew its position in argenex by 19.2% during the fourth quarter. Morgan Stanley now owns 518,852 shares of the company’s stock worth $436,331,000 after buying an additional 83,746 shares in the last quarter. Invesco Ltd. increased its stake in argenex by 390.4% in the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock worth $350,178,000 after acquiring an additional 331,489 shares during the last quarter. Finally, Sands Capital Management LLC increased its stake in argenex by 2,046.6% in the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after acquiring an additional 340,245 shares during the last quarter. 60.32% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Citizens Jmp cut their price objective on argenex from $944.00 to $932.00 and set a “market outperform” rating for the company in a report on Friday, July 24th. Citigroup lifted their target price on shares of argenex from $1,152.00 to $1,182.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada increased their price target on shares of argenex from $945.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Wall Street Zen raised shares of argenex from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Morgan Stanley boosted their price objective on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Two investment 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 company. According to data from MarketBeat, argenex has an average rating of “Moderate Buy” and a consensus target price of $1,056.89.
argenex Stock Up 2.8%
Shares of NASDAQ:ARGX opened at $867.94 on Thursday. The firm has a 50 day moving average of $877.81 and a 200 day moving average of $818.62. The company has a market capitalization of $54.30 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. argenex SE has a 52 week low of $631.47 and a 52 week high of $953.58.
argenex (NASDAQ:ARGX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping the consensus estimate of $5.86 by $1.46. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. On average, sell-side analysts expect that argenex SE will post 28.05 EPS for the current 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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