Peregrine Capital Management LLC Acquires New Holdings in argenex SE $ARGX

Peregrine Capital Management LLC bought a new stake in shares of argenex SE (NASDAQ:ARGX) in the 2nd quarter, Holdings Channel.com reports. The fund bought 29,732 shares of the company’s stock, valued at approximately $27,584,000. argenex comprises approximately 0.9% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 20th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Eastern Bank purchased a new stake in shares of argenex in the second quarter valued at about $32,000. Whipplewood Advisors LLC purchased a new position in shares of argenex during the 1st quarter worth approximately $28,000. Sunbelt Securities Inc. purchased a new position in shares of argenex during the 3rd quarter worth approximately $36,000. Axiom Investment Management LLC acquired a new position in shares of argenex during the 1st quarter worth approximately $50,000. Finally, SBI Securities Co. Ltd. lifted its stake in argenex by 268.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 81 shares of the company’s stock valued at $68,000 after buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Stock Performance

Shares of ARGX opened at $876.00 on Thursday. The stock has a fifty day moving average of $882.24 and a two-hundred day moving average of $820.70. The company has a market capitalization of $54.80 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. argenex SE has a fifty-two week low of $637.04 and a fifty-two week high of $953.58.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.45 billion. As a group, equities research analysts forecast that argenex SE will post 28.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARGX has been the topic of a number of analyst reports. Guggenheim started coverage on argenex in a report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 target price on the stock. Oppenheimer boosted their price target on argenex from $1,014.00 to $1,037.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Citizens Jmp reduced their price objective on argenex from $944.00 to $932.00 and set a “market outperform” rating on the stock in a research report on Friday, July 24th. Morgan Stanley increased their price objective on argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Finally, Robert W. Baird lifted their price objective on argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,056.89.

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.