Panagora Asset Management Inc. Buys New Shares in argenex SE $ARGX

Panagora Asset Management Inc. bought a new position in argenex SE (NASDAQ:ARGX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,427 shares of the company’s stock, valued at approximately $1,338,000.

A number of other institutional investors have also bought and sold shares of ARGX. Franklin Resources Inc. lifted its position in shares of argenex by 103.9% in the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after acquiring an additional 142,606 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in argenex by 33.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company’s stock valued at $162,585,000 after purchasing an additional 68,498 shares during the period. Millennium Management LLC raised its stake in argenex by 316.9% during the 1st quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock valued at $158,977,000 after purchasing an additional 204,180 shares during the period. Jennison Associates LLC lifted its holdings in argenex by 6.1% in the 2nd quarter. Jennison Associates LLC now owns 264,647 shares of the company’s stock worth $145,879,000 after purchasing an additional 15,186 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in argenex by 38.3% in the 2nd quarter. American Century Companies Inc. now owns 205,906 shares of the company’s stock worth $113,503,000 after purchasing an additional 57,054 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Stock Down 0.6%

argenex stock opened at $915.97 on Friday. argenex SE has a 52-week low of $510.05 and a 52-week high of $934.62. The firm’s fifty day moving average is $846.84 and its 200 day moving average is $703.42. The company has a market cap of $56.40 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 0.93 and a beta of 0.37.

argenex (NASDAQ:ARGX) last posted its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. On average, equities research analysts anticipate that argenex SE will post 3.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARGX. Bank of America lifted their price objective on shares of argenex from $880.00 to $887.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Zacks Research cut shares of argenex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada lifted their price target on shares of argenex from $850.00 to $860.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Guggenheim reissued a “buy” rating and set a $1,070.00 price objective on shares of argenex in a report on Thursday, September 18th. Finally, TD Cowen raised their price objective on argenex from $800.00 to $1,146.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, argenex presently has a consensus rating of “Moderate Buy” and an average target price of $907.67.

argenex Profile

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.