Barometer Capital Management Inc. Makes New Investment in argenex SE $ARGX

Barometer Capital Management Inc. purchased a new position in shares of argenex SE (NASDAQ:ARGX) during the first quarter, Holdings Channel.com reports. The fund purchased 1,550 shares of the company’s stock, valued at approximately $1,132,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its stake in shares of argenex by 2.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock worth $372,000 after acquiring an additional 12 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of argenex by 0.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company’s stock valued at $1,153,000 after purchasing an additional 12 shares in the last quarter. CI Investments Inc. raised its holdings in argenex by 2.6% in the 4th quarter. CI Investments Inc. now owns 469 shares of the company’s stock worth $394,000 after purchasing an additional 12 shares during the period. Allworth Financial LP raised its holdings in argenex by 12.7% in the 4th quarter. Allworth Financial LP now owns 115 shares of the company’s stock worth $97,000 after purchasing an additional 13 shares during the period. Finally, WPG Advisers LLC raised its holdings in argenex by 17.8% in the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Trading Up 3.4%

Shares of ARGX opened at $874.74 on Wednesday. The firm has a market cap of $54.72 billion, a P/E ratio of 38.95, a price-to-earnings-growth ratio of 1.05 and a beta of 0.45. argenex SE has a 12-month low of $563.08 and a 12-month high of $953.58. The company’s 50-day moving average price is $862.87 and its 200 day moving average price is $813.72.

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

Wall Street Analyst Weigh In

ARGX has been the topic of a number of research analyst reports. Weiss Ratings raised shares of argenex from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th. HC Wainwright reaffirmed a “buy” rating and set a $940.00 price objective on shares of argenex in a report on Thursday, June 25th. Guggenheim increased their price objective on shares of argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a report on Friday, May 8th. Oppenheimer dropped their target price on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research report on Thursday, April 2nd. Finally, Wedbush reissued an “outperform” rating and set a $1,000.00 target price on shares of argenex in a research note on Thursday, June 11th. Two 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,042.67.

argenex Company 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.