PSP Research LLC Buys New Holdings in argenex SE $ARGX

PSP Research LLC bought a new stake in argenex SE (NASDAQ:ARGX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 630 shares of the company’s stock, valued at approximately $530,000.

A number of other large investors have also modified their holdings of ARGX. Abound Wealth Management raised its stake in shares of argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after purchasing an additional 32 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of argenex during the fourth quarter valued at $28,000. Ameriflex Group Inc. bought a new position in shares of argenex during the third quarter valued at $32,000. Sunbelt Securities Inc. bought a new position in shares of argenex during the third quarter valued at $36,000. Finally, Aventura Private Wealth LLC bought a new position in shares of argenex during the fourth quarter valued at $38,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Glj Research raised argenex to a “strong-buy” rating in a report on Friday, April 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of argenex in a research note on Monday, April 20th. Wedbush reaffirmed an “outperform” rating and set a $1,000.00 price objective on shares of argenex in a research note on Monday, March 9th. Zacks Research raised shares of argenex from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Wells Fargo & Company raised their target price on argenex from $1,247.00 to $1,260.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, argenex currently has a consensus rating of “Moderate Buy” and an average target price of $1,017.78.

argenex Trading Up 2.8%

Shares of ARGX opened at $797.77 on Wednesday. argenex SE has a 1 year low of $510.05 and a 1 year high of $934.62. The stock has a market cap of $49.37 billion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 1.24 and a beta of 0.46. The stock’s 50-day moving average price is $762.86 and its two-hundred day moving average price is $816.06.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. argenex had a return on equity of 33.28% and a net margin of 31.31%.The firm had revenue of $1.31 billion for the quarter. As a group, equities analysts forecast that argenex SE will post 25.08 EPS for the current 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.