Mediolanum International Funds Ltd Acquires New Stake in argenex SE $ARGX

Mediolanum International Funds Ltd bought a new stake in argenex SE (NASDAQ:ARGX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,339 shares of the company’s stock, valued at approximately $10,310,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ARGX. Mather Group LLC. purchased a new position in shares of argenex during the 3rd quarter worth $50,000. TD Private Client Wealth LLC boosted its stake in argenex by 750.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 85 shares of the company’s stock worth $63,000 after buying an additional 75 shares during the last quarter. MAI Capital Management grew its holdings in argenex by 866.7% in the 2nd quarter. MAI Capital Management now owns 87 shares of the company’s stock valued at $48,000 after buying an additional 78 shares during the period. Financial Consulate Inc. acquired a new position in shares of argenex during the 3rd quarter valued at about $75,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of argenex by 42.7% during the 3rd quarter. Global Retirement Partners LLC now owns 107 shares of the company’s stock worth $79,000 after acquiring an additional 32 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Trading Down 0.9%

Shares of NASDAQ ARGX opened at $840.50 on Monday. The firm has a 50-day moving average of $852.12 and a two-hundred day moving average of $784.39. argenex SE has a twelve month low of $510.05 and a twelve month high of $934.62. The company has a market capitalization of $52.01 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 0.55 and a beta of 0.37.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARGX. Morgan Stanley increased their price target on shares of argenex from $1,070.00 to $1,110.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Wells Fargo & Company boosted their price target on argenex from $1,264.00 to $1,317.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of argenex in a research report on Wednesday, January 21st. HC Wainwright raised their price target on argenex from $774.00 to $915.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Wedbush restated an “outperform” rating and set a $1,000.00 price target on shares of argenex in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $986.78.

argenex Company 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.