argenex SE $ARGX Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its holdings in argenex SE (NASDAQ:ARGX) by 7.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 32,917 shares of the company’s stock after selling 2,743 shares during the quarter. Royal Bank of Canada’s holdings in argenex were worth $24,036,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in argenex in the 4th quarter valued at $28,000. Whipplewood Advisors LLC purchased a new position in argenex during the 1st quarter valued at about $28,000. Sunbelt Securities Inc. purchased a new stake in argenex in the 3rd quarter valued at approximately $36,000. SBI Securities Co. Ltd. boosted its stake in shares of argenex by 268.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 81 shares of the company’s stock valued at $68,000 after acquiring an additional 59 shares during the last quarter. Finally, Transamerica Financial Advisors LLC raised its position in shares of argenex by 80.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 85 shares of the company’s stock valued at $71,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ARGX shares. Morgan Stanley raised their price objective on argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Bank of America increased their target price on shares of argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Oppenheimer raised their price target on shares of argenex from $1,014.00 to $1,037.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Citigroup boosted their target price on argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Robert W. Baird raised their price objective on shares of argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Two research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,056.89.

argenex Stock Performance

ARGX opened at $867.94 on Thursday. argenex SE has a 52-week low of $631.47 and a 52-week high of $953.58. The firm has a market cap of $54.30 billion, a P/E ratio of 33.33, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. The business’s fifty day moving average is $877.81 and its 200-day moving average is $818.62.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. On average, research analysts predict that argenex SE will post 28.05 earnings per share for the current fiscal year.

About argenex

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.