Assenagon Asset Management S.A. Acquires Shares of 24,347 argenex SE $ARGX

Assenagon Asset Management S.A. bought a new position in shares of argenex SE (NASDAQ:ARGX) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 24,347 shares of the company’s stock, valued at approximately $20,475,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. boosted its position in argenex by 11.6% during the third quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock worth $169,474,000 after acquiring an additional 23,864 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in argenex by 91.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,828 shares of the company’s stock valued at $6,511,000 after acquiring an additional 4,217 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in argenex by 21.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 3,671 shares of the company’s stock worth $2,708,000 after purchasing an additional 645 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of argenex by 14.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock worth $162,160,000 after purchasing an additional 26,343 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of argenex by 37.2% during the 3rd quarter. US Bancorp DE now owns 7,073 shares of the company’s stock worth $5,217,000 after purchasing an additional 1,919 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ARGX shares. DZ Bank upgraded argenex to a “strong-buy” rating in a research report on Friday, December 19th. HC Wainwright upped their target price on argenex from $915.00 to $940.00 and gave the company a “buy” rating in a report on Friday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $1,000.00 target price on shares of argenex in a research note on Monday, March 9th. Deutsche Bank Aktiengesellschaft upgraded argenex from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Finally, Wells Fargo & Company lowered their price target on shares of argenex from $1,317.00 to $1,247.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $999.22.

argenex Stock Down 0.6%

ARGX stock opened at $692.83 on Friday. argenex SE has a 52-week low of $510.05 and a 52-week high of $934.62. The stock has a market cap of $42.87 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 1.15 and a beta of 0.38. The business has a fifty day moving average of $783.22 and a two-hundred day moving average of $814.12.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.05 by $1.97. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. argenex had a return on equity of 38.51% and a net margin of 30.42%. As a group, sell-side analysts anticipate that argenex SE will post 3.13 EPS for the current year.

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.