Naviter Wealth LLC Buys New Stake in argenex SE $ARGX

Naviter Wealth LLC bought a new stake in argenex SE (NASDAQ:ARGX) in the 2nd quarter, Holdings Channel.com reports. The fund bought 800 shares of the company’s stock, valued at approximately $441,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. increased its holdings in argenex by 4.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 940 shares of the company’s stock valued at $518,000 after purchasing an additional 36 shares during the last quarter. Yousif Capital Management LLC increased its holdings in argenex by 12.4% in the 2nd quarter. Yousif Capital Management LLC now owns 1,043 shares of the company’s stock valued at $575,000 after purchasing an additional 115 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in argenex by 4.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 184,987 shares of the company’s stock valued at $100,350,000 after purchasing an additional 8,537 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in argenex by 6.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,009 shares of the company’s stock valued at $1,659,000 after purchasing an additional 195 shares during the last quarter. Finally, Sivik Global Healthcare LLC acquired a new position in shares of argenex in the second quarter worth $1,378,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Trading Up 1.7%

Shares of ARGX stock opened at $812.95 on Wednesday. The firm has a fifty day moving average price of $724.90 and a 200 day moving average price of $630.74. The company has a market cap of $49.75 billion, a P/E ratio of 41.69, a PEG ratio of 0.86 and a beta of 0.46. argenex SE has a 12 month low of $510.05 and a 12 month high of $813.37.

argenex (NASDAQ:ARGX) last issued its earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.90. The firm had revenue of $866.79 million during the quarter, compared to the consensus estimate of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. On average, equities analysts forecast that argenex SE will post 3.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ARGX shares. Wedbush boosted their price target on shares of argenex from $800.00 to $880.00 and gave the stock an “outperform” rating in a research note on Monday. Stifel Nicolaus set a $882.00 price target on shares of argenex in a research note on Thursday, September 18th. Guggenheim restated a “buy” rating and issued a $1,070.00 price target on shares of argenex in a research note on Thursday, September 18th. Bank of America boosted their price target on shares of argenex from $880.00 to $887.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of argenex from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $817.53.

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.