Summit Securities Group LLC Purchases Shares of 1,501 argenex SE (NASDAQ:ARGX)

Summit Securities Group LLC purchased a new stake in shares of argenex SE (NASDAQ:ARGX) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,501 shares of the company’s stock, valued at approximately $888,000.

Other institutional investors and hedge funds have also modified their holdings of the company. GeoWealth Management LLC lifted its holdings in shares of argenex by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after buying an additional 18 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock valued at $36,000 after buying an additional 22 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of argenex in the 4th quarter valued at about $38,000. Golden State Wealth Management LLC acquired a new position in shares of argenex in the 1st quarter valued at about $44,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of argenex in the 1st quarter valued at about $76,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Price Performance

Shares of argenex stock opened at $653.83 on Friday. The business has a 50 day simple moving average of $587.10 and a two-hundred day simple moving average of $597.57. argenex SE has a 12 month low of $510.05 and a 12 month high of $696.21. The stock has a market capitalization of $40.01 billion, a P/E ratio of 33.53, a PEG ratio of 0.75 and a beta of 0.39.

argenex (NASDAQ:ARGX) last announced its earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%. The business had revenue of $866.79 million during the quarter, compared to analysts’ expectations of $776.82 million. As a group, research analysts anticipate that argenex SE will post 3.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ARGX shares. Wells Fargo & Company boosted their price objective on argenex from $741.00 to $756.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised argenex from a “hold” rating to a “buy” rating in a report on Tuesday, July 8th. Citigroup reaffirmed a “buy” rating on shares of argenex in a report on Wednesday, May 21st. Robert W. Baird raised argenex from a “neutral” rating to an “outperform” rating and set a $680.00 price target for the company in a report on Tuesday, May 13th. Finally, Morgan Stanley upped their price target on argenex from $700.00 to $766.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Eighteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, argenex presently has a consensus rating of “Buy” and an average price target of $746.81.

About argenex

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.