First Trust Advisors LP Boosts Stock Position in argenex SE $ARGX

First Trust Advisors LP lifted its stake in argenex SE (NASDAQ:ARGX) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,985 shares of the company’s stock after acquiring an additional 6,215 shares during the period. First Trust Advisors LP’s holdings in argenex were worth $47,930,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Legacy Capital Group California Inc. lifted its holdings in argenex by 7.0% during the 3rd quarter. Legacy Capital Group California Inc. now owns 638 shares of the company’s stock worth $471,000 after purchasing an additional 42 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in argenex by 36.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,144 shares of the company’s stock valued at $844,000 after buying an additional 308 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of argenex by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 40,220 shares of the company’s stock valued at $29,662,000 after buying an additional 4,227 shares during the period. American Century Companies Inc. increased its position in shares of argenex by 11.6% during the third quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock valued at $169,474,000 after buying an additional 23,864 shares during the period. Finally, Ninepoint Partners LP purchased a new stake in shares of argenex in the third quarter worth about $148,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Stock Down 2.0%

NASDAQ ARGX opened at $728.09 on Thursday. The company has a 50-day simple moving average of $809.43 and a two-hundred day simple moving average of $816.56. argenex SE has a 12-month low of $510.05 and a 12-month high of $934.62. The firm has a market cap of $45.05 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 1.23 and a beta of 0.38.

argenex (NASDAQ:ARGX) last released its earnings results on Thursday, February 26th. The company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.05 by $1.97. argenex had a return on equity of 38.51% and a net margin of 30.42%.The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Equities analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ARGX shares. Wall Street Zen lowered shares of argenex from a “buy” rating to a “hold” rating in a research report on Sunday. JPMorgan Chase & Co. upped their target price on shares of argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Royal Bank Of Canada lowered their target price on shares of argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of argenex in a report on Wednesday, January 21st. Finally, Robert W. Baird boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $999.22.

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.