Alkeon Capital Management LLC Grows Stock Position in argenex SE $ARGX

Alkeon Capital Management LLC grew its holdings in argenex SE (NASDAQ:ARGX) by 133.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 175,000 shares of the company’s stock after acquiring an additional 100,000 shares during the quarter. Alkeon Capital Management LLC owned 0.28% of argenex worth $129,073,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in argenex during the 3rd quarter worth approximately $32,000. Bessemer Group Inc. raised its holdings in shares of argenex by 276.5% in the third quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after buying an additional 47 shares during the last quarter. MAI Capital Management lifted its stake in shares of argenex by 866.7% during the second quarter. MAI Capital Management now owns 87 shares of the company’s stock worth $48,000 after buying an additional 78 shares during the period. Mather Group LLC. acquired a new stake in shares of argenex during the third quarter worth $50,000. Finally, Rossby Financial LCC grew its holdings in shares of argenex by 115.2% during the third quarter. Rossby Financial LCC now owns 71 shares of the company’s stock valued at $54,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley upped their target price on argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. HC Wainwright boosted their price target on argenex from $915.00 to $940.00 and gave the company a “buy” rating in a research note on Friday, February 27th. JPMorgan Chase & Co. increased their price objective on argenex from $925.00 to $1,100.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Wells Fargo & Company reduced their price objective on argenex from $1,317.00 to $1,247.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of argenex in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, argenex presently has a consensus rating of “Moderate Buy” and an average price target of $999.22.

argenex Stock Performance

Shares of argenex stock opened at $700.45 on Friday. The firm has a 50-day simple moving average of $804.00 and a two-hundred day simple moving average of $816.72. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $934.62. The company has a market cap of $43.34 billion, a P/E ratio of 35.88, a price-to-earnings-growth ratio of 1.16 and a beta of 0.38.

argenex (NASDAQ:ARGX) last posted its earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.05 by $1.97. argenex had a return on equity of 38.51% and a net margin of 30.42%.The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Equities research analysts forecast that argenex SE will post 3.13 EPS for the current 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.