argenex SE $ARGX Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in argenex SE (NASDAQ:ARGX) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,122 shares of the company’s stock after buying an additional 1,020 shares during the quarter. New York State Common Retirement Fund’s holdings in argenex were worth $48,031,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. increased its holdings in shares of argenex by 114.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after acquiring an additional 158,476 shares during the last quarter. Franklin Resources Inc. increased its stake in argenex by 103.9% in the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after purchasing an additional 142,606 shares during the last quarter. Jennison Associates LLC increased its stake in argenex by 6.1% in the second quarter. Jennison Associates LLC now owns 264,647 shares of the company’s stock valued at $145,879,000 after purchasing an additional 15,186 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings 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 purchasing an additional 26,343 shares in the last quarter. Finally, Orbimed Advisors LLC boosted its holdings in shares of argenex by 0.6% in the 2nd 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. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Trading Down 0.9%

Shares of ARGX stock opened at $840.50 on Friday. The company has a market capitalization of $52.01 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 0.56 and a beta of 0.38. The business’s 50 day moving average is $852.12 and its two-hundred day moving average is $781.37. argenex SE has a twelve month low of $510.05 and a twelve month high of $934.62.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, topping the consensus estimate of $4.37 by $0.03. argenex had a return on equity of 29.78% and a net margin of 41.58%.The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. As a group, equities analysts predict that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ARGX shares. Citigroup reduced their price target on shares of argenex from $1,124.00 to $1,091.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Morgan Stanley raised their price target on argenex from $1,070.00 to $1,110.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. HC Wainwright boosted their price objective on argenex from $774.00 to $915.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Robert W. Baird downgraded argenex from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. Finally, Truist Financial lifted their target price on shares of argenex from $950.00 to $1,030.00 and gave the company a “buy” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.78.

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.