Financiere des Professionnels Fonds d investissement inc. Makes New Investment in argenex SE $ARGX

Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of argenex SE (NASDAQ:ARGX) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 3,327 shares of the company’s stock, valued at approximately $2,430,000.

Several other institutional investors have also made changes to their positions in ARGX. Assenagon Asset Management S.A. acquired a new stake in argenex in the fourth quarter valued at approximately $20,475,000. Sivik Global Healthcare LLC acquired a new position in shares of argenex during the 4th quarter worth $1,261,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of argenex by 22.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,846 shares of the company’s stock worth $9,121,000 after purchasing an additional 2,018 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of argenex by 94.9% during the 4th quarter. SG Americas Securities LLC now owns 3,179 shares of the company’s stock valued at $2,673,000 after purchasing an additional 1,548 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in shares of argenex by 34.8% during the 4th quarter. M&T Bank Corp now owns 4,980 shares of the company’s stock valued at $4,188,000 after purchasing an additional 1,286 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARGX has been the subject of several analyst reports. Bank of America lifted their price objective on shares of argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded argenex from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. Oppenheimer reduced their price target on argenex from $1,060.00 to $1,014.00 and set an “outperform” rating for the company in a research report on Thursday, April 2nd. Guggenheim upped their price target on argenex from $1,120.00 to $1,135.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company increased their price objective on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,037.61.

argenex Trading Up 0.3%

NASDAQ:ARGX opened at $860.55 on Friday. The firm has a market capitalization of $53.52 billion, a PE ratio of 38.31, a PEG ratio of 1.06 and a beta of 0.45. argenex SE has a 1 year low of $560.91 and a 1 year high of $953.58. The firm’s fifty day simple moving average is $860.97 and its 200 day simple moving average is $813.59.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. The firm had revenue of $1.31 billion during the quarter. As a group, analysts anticipate that argenex SE will post 26.27 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.