Lord Abbett & CO. LLC Increases Stake in argenex SE $ARGX

Lord Abbett & CO. LLC increased its holdings in shares of argenex SE (NASDAQ:ARGX) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 203,864 shares of the company’s stock after buying an additional 6,987 shares during the period. Lord Abbett & CO. LLC’s holdings in argenex were worth $171,439,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Abound Wealth Management increased its position in shares of argenex by 3,200.0% in the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after purchasing an additional 32 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of argenex in the 4th quarter valued at approximately $28,000. Ameriflex Group Inc. purchased a new stake in shares of argenex in the 3rd quarter valued at approximately $32,000. Aventura Private Wealth LLC purchased a new stake in shares of argenex in the 4th quarter valued at approximately $38,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of argenex in the 3rd quarter valued at approximately $36,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ARGX has been the topic of a number of recent analyst reports. 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 research report on Friday, May 8th. Glj Research raised shares of argenex to a “strong-buy” rating in a research report on Friday, April 3rd. Royal Bank Of Canada dropped their price objective on shares of argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. HC Wainwright increased their price objective on shares of argenex from $915.00 to $940.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Robert W. Baird increased their price objective on shares of argenex from $858.00 to $867.00 and gave the company a “neutral” rating in a research report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.50.

argenex Trading Down 0.6%

Shares of argenex stock opened at $893.52 on Friday. The company has a fifty day simple moving average of $812.09 and a 200-day simple moving average of $812.17. argenex SE has a 12-month low of $510.05 and a 12-month high of $934.62. The stock has a market cap of $55.57 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 1.37 and a beta of 0.47.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. The business had revenue of $1.31 billion during the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. On average, analysts forecast that argenex SE will post 26.19 earnings per share for the current fiscal year.

argenex 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.