Spire Wealth Management Purchases New Position in argenex SE $ARGX

Spire Wealth Management acquired a new stake in shares of argenex SE (NASDAQ:ARGX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 914 shares of the company’s stock, valued at approximately $848,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of argenex by 22.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,846 shares of the company’s stock valued at $9,121,000 after acquiring an additional 2,018 shares during the last quarter. PNC Financial Services Group Inc. grew its position in argenex by 65.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $2,713,000 after acquiring an additional 1,280 shares during the last quarter. M&T Bank Corp increased its holdings in argenex by 34.8% during the 4th quarter. M&T Bank Corp now owns 4,980 shares of the company’s stock valued at $4,188,000 after purchasing an additional 1,286 shares in the last quarter. UBS Group AG increased its holdings in argenex by 12.3% during the 4th quarter. UBS Group AG now owns 60,384 shares of the company’s stock valued at $50,780,000 after purchasing an additional 6,591 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in argenex by 2.7% in the 1st quarter. Bessemer Group Inc. now owns 64,251 shares of the company’s stock valued at $46,920,000 after purchasing an additional 1,714 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARGX has been the topic of several research analyst reports. Weiss Ratings cut argenex from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Robert W. Baird upped their price target on shares of argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. HC Wainwright reissued a “buy” rating and set a $940.00 price objective on shares of argenex in a report on Thursday, June 25th. Wells Fargo & Company raised their price objective on shares of argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Morgan Stanley boosted their target price on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,056.89.

argenex Stock Up 1.3%

Shares of ARGX stock opened at $876.00 on Thursday. The firm has a market cap of $54.80 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 1.07 and a beta of 0.46. argenex SE has a 12 month low of $637.04 and a 12 month high of $953.58. The stock has a 50-day moving average price of $882.24 and a 200 day moving average price of $820.70.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. Sell-side analysts predict that argenex SE will post 28.77 earnings per share for the current fiscal 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.