Lord Abbett & CO. LLC Raises Stock Position in argenex SE $ARGX

Lord Abbett & CO. LLC grew its stake in argenex SE (NASDAQ:ARGX) by 3.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 203,864 shares of the company’s stock after acquiring an additional 6,987 shares during the period. Lord Abbett & CO. LLC owned about 0.33% of argenex worth $171,439,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Abound Wealth Management raised its stake in shares of argenex by 3,200.0% in the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after acquiring an additional 32 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of argenex in the 4th quarter valued at approximately $28,000. Ameriflex Group Inc. purchased a new stake in shares of argenex in the 3rd quarter valued at approximately $32,000. Sunbelt Securities Inc. purchased a new stake in shares of argenex in the 3rd quarter valued at approximately $36,000. Finally, Aventura Private Wealth LLC purchased a new stake in shares of argenex in the 4th quarter valued at approximately $38,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARGX has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on shares of argenex from $858.00 to $867.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Citizens Jmp boosted their price target on shares of argenex from $925.00 to $944.00 and gave the company a “market outperform” rating in a research note on Friday, February 27th. Zacks Research raised shares of argenex from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. HC Wainwright boosted their price target on shares of argenex from $915.00 to $940.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Oppenheimer reduced their price target on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,019.50.

argenex Stock Down 0.6%

Shares of ARGX opened at $893.52 on Friday. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $934.62. The firm’s 50 day moving average price is $812.09 and its 200 day moving average price is $812.17. The company has a market cap of $55.57 billion, a P/E ratio of 39.78, a PEG ratio of 1.37 and a beta of 0.47.

argenex (NASDAQ:ARGX) last announced its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. The firm had revenue of $1.31 billion for the quarter. Research analysts forecast that argenex SE will post 26.19 earnings per share for the current year.

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.