Spire Wealth Management Takes Position in argenex SE $ARGX

Spire Wealth Management purchased a new position in argenex SE (NASDAQ:ARGX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 914 shares of the company’s stock, valued at approximately $848,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Whipplewood Advisors LLC bought a new position in argenex during the first quarter worth about $28,000. Eastern Bank bought a new stake in shares of argenex in the 2nd quarter valued at about $32,000. Sunbelt Securities Inc. acquired a new stake in shares of argenex in the 3rd quarter valued at approximately $36,000. Axiom Investment Management LLC bought a new position in argenex during the 1st quarter worth approximately $50,000. Finally, WPG Advisers LLC boosted its stake in argenex by 17.8% during the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after acquiring an additional 13 shares during the last quarter. Institutional investors own 60.32% of the company’s stock.

argenex Stock Performance

NASDAQ:ARGX opened at $876.00 on Thursday. The company has a market cap of $54.80 billion, a PE ratio of 33.64, a PEG ratio of 1.07 and a beta of 0.46. argenex SE has a 52-week low of $637.04 and a 52-week high of $953.58. The stock has a 50-day simple moving average of $882.24 and a 200 day simple moving average of $820.70.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating the consensus estimate of $5.86 by $1.46. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. On average, research analysts predict that argenex SE will post 28.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARGX has been the subject of several recent analyst reports. Robert W. Baird upped their target price on shares of argenex from $867.00 to $932.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. HC Wainwright reiterated a “buy” rating and issued a $940.00 price objective on shares of argenex in a research report on Thursday, June 25th. Citigroup increased their target price on argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Morgan Stanley raised their target price on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Finally, Citizens Jmp cut their price target on shares of argenex from $944.00 to $932.00 and set a “market outperform” rating on the stock in a research note on Friday, July 24th. Two investment 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. According to data from MarketBeat.com, argenex has an average rating of “Moderate Buy” and a consensus target price of $1,056.89.

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.