Bailard Inc. Takes Position in argenex SE $ARGX

Bailard Inc. purchased a new stake in argenex SE (NASDAQ:ARGX) in the 3rd quarter, HoldingsChannel reports. The firm purchased 1,001 shares of the company’s stock, valued at approximately $738,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. grew its position in argenex by 114.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after acquiring an additional 158,476 shares in the last quarter. Franklin Resources Inc. boosted its holdings in argenex by 103.9% in the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock worth $154,233,000 after purchasing an additional 142,606 shares in the last quarter. Jennison Associates LLC increased its position in argenex by 6.1% during the second quarter. Jennison Associates LLC now owns 264,647 shares of the company’s stock worth $145,879,000 after buying an additional 15,186 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in argenex by 14.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock worth $162,160,000 after buying an additional 26,343 shares during the last quarter. Finally, Orbimed Advisors LLC raised its holdings in argenex by 0.6% during the second quarter. Orbimed Advisors LLC now owns 208,000 shares of the company’s stock valued at $114,654,000 after buying an additional 1,300 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded argenex from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. HC Wainwright lifted their price target on shares of argenex from $774.00 to $915.00 and gave the company a “buy” rating in a research report on Friday, October 31st. TD Cowen upped their price objective on shares of argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wells Fargo & Company raised their target price on shares of argenex from $1,264.00 to $1,317.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Truist Financial boosted their target price on shares of argenex from $950.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, argenex currently has an average rating of “Moderate Buy” and a consensus target price of $986.78.

argenex Price Performance

NASDAQ ARGX opened at $814.74 on Friday. The company’s fifty day moving average is $859.47 and its two-hundred day moving average is $771.27. argenex SE has a 52-week low of $510.05 and a 52-week high of $934.62. The firm has a market capitalization of $50.42 billion, a price-to-earnings ratio of 34.98, a P/E/G ratio of 0.53 and a beta of 0.38.

argenex (NASDAQ:ARGX) last released its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.03. argenex had a net margin of 41.58% and a return on equity of 29.78%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. As a group, sell-side analysts expect that argenex SE will post 3.13 earnings per share 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.