Federated Hermes Inc. Cuts Stake in argenex SE (NASDAQ:ARGX)

Federated Hermes Inc. lessened its holdings in shares of argenex SE (NASDAQ:ARGX) by 36.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,945 shares of the company’s stock after selling 61,302 shares during the period. Federated Hermes Inc.’s holdings in argenex were worth $64,481,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Mackenzie Financial Corp increased its position in argenex by 3.4% during the 1st quarter. Mackenzie Financial Corp now owns 4,600 shares of the company’s stock valued at $2,723,000 after buying an additional 151 shares in the last quarter. Nkcfo LLC grew its stake in shares of argenex by 32.7% during the first quarter. Nkcfo LLC now owns 146 shares of the company’s stock worth $86,000 after acquiring an additional 36 shares during the last quarter. LPL Financial LLC increased its holdings in shares of argenex by 28.0% during the first quarter. LPL Financial LLC now owns 20,880 shares of the company’s stock valued at $12,358,000 after acquiring an additional 4,563 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of argenex by 5.6% in the 1st quarter. Pacer Advisors Inc. now owns 833 shares of the company’s stock valued at $493,000 after purchasing an additional 44 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in argenex by 3.2% in the 1st quarter. Assetmark Inc. now owns 8,926 shares of the company’s stock worth $5,283,000 after purchasing an additional 278 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ARGX. Deutsche Bank Aktiengesellschaft upgraded shares of argenex from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th. Wedbush reiterated an “outperform” rating and set a $715.00 price target on shares of argenex in a research note on Monday, July 21st. HC Wainwright restated a “buy” rating and issued a $720.00 price objective on shares of argenex in a research note on Tuesday, July 1st. Oppenheimer increased their price objective on shares of argenex from $704.00 to $708.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Finally, Baird R W upgraded shares of argenex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Nineteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $728.06.

argenex Trading Up 0.6%

NASDAQ:ARGX opened at $598.79 on Wednesday. The company has a market cap of $36.65 billion, a P/E ratio of 36.94, a P/E/G ratio of 1.07 and a beta of 0.37. argenex SE has a twelve month low of $475.65 and a twelve month high of $678.21. The company’s 50-day moving average price is $566.92 and its 200-day moving average price is $597.13.

argenex (NASDAQ:ARGX) last released its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.26. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. argenex had a net margin of 40.20% and a return on equity of 16.15%. On average, analysts expect that argenex SE will post 3.13 earnings per share for the current year.

argenex Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.