Hsbc Holdings PLC Buys New Stake in argenex SE $ARGX

Hsbc Holdings PLC bought a new stake in argenex SE (NASDAQ:ARGX) during the first quarter, HoldingsChannel.com reports. The fund bought 20,379 shares of the company’s stock, valued at approximately $14,882,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in argenex by 2.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock valued at $372,000 after purchasing an additional 12 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of argenex by 0.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company’s stock worth $1,153,000 after buying an additional 12 shares in the last quarter. CI Investments Inc. lifted its position in shares of argenex by 2.6% during the 4th quarter. CI Investments Inc. now owns 469 shares of the company’s stock worth $394,000 after buying an additional 12 shares during the period. Allworth Financial LP lifted its position in shares of argenex by 12.7% during the 4th quarter. Allworth Financial LP now owns 115 shares of the company’s stock worth $97,000 after buying an additional 13 shares during the period. Finally, WPG Advisers LLC boosted its stake in argenex by 17.8% in the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after buying an additional 13 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company upped their price target on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Weiss Ratings upgraded shares of argenex from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th. Citigroup upped their target price on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a report on Tuesday. Wedbush reiterated an “outperform” rating and set a $1,000.00 target price on shares of argenex in a research report on Thursday, June 11th. Finally, Guggenheim increased their target price on shares of argenex from $1,120.00 to $1,135.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,042.67.

argenex Stock Performance

Shares of ARGX opened at $851.72 on Thursday. The company has a market cap of $53.28 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 1.08 and a beta of 0.45. The stock has a fifty day moving average price of $863.85 and a two-hundred day moving average price of $813.80. argenex SE has a 52-week low of $566.42 and a 52-week high of $953.58.

argenex (NASDAQ:ARGX) last announced its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%.The company had revenue of $1.31 billion during the quarter. As a group, research analysts predict that argenex SE will post 26.33 EPS for the current fiscal year.

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.