Erste Asset Management GmbH Takes Position in argenx SE (NASDAQ:ARGX)

Erste Asset Management GmbH acquired a new stake in argenx SE (NASDAQ:ARGX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,800 shares of the company’s stock, valued at approximately $9,007,000.

A number of other institutional investors have also recently added to or reduced their stakes in ARGX. FMR LLC increased its holdings in argenx by 35.9% in the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after buying an additional 1,265,486 shares in the last quarter. Perpetual Ltd purchased a new position in argenx in the 3rd quarter valued at approximately $76,314,000. Logos Global Management LP purchased a new position in argenx in the 2nd quarter valued at approximately $58,055,000. Sei Investments Co. raised its holdings in argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after purchasing an additional 50,477 shares during the last quarter. Finally, Tri Locum Partners LP boosted its position in argenx by 166.5% during the second quarter. Tri Locum Partners LP now owns 74,558 shares of the company’s stock worth $32,063,000 after purchasing an additional 46,577 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARGX. HC Wainwright restated a “buy” rating and issued a $617.00 price target on shares of argenx in a research report on Wednesday, November 20th. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $439.00 to $715.00 in a research report on Tuesday, November 5th. Raymond James reiterated a “strong-buy” rating and issued a $605.00 price target on shares of argenx in a research report on Thursday, October 10th. Baird R W downgraded argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Wolfe Research upgraded argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 target price on the stock in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $630.42.

argenx Stock Up 0.3 %

Shares of ARGX opened at $616.55 on Monday. The firm has a market cap of $37.22 billion, a PE ratio of -700.63 and a beta of 0.61. The company’s fifty day moving average is $565.73 and its two-hundred day moving average is $497.22. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $620.28.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter last year, the firm earned ($1.25) earnings per share. As a group, equities research analysts anticipate that argenx SE will post 2.2 earnings per share for the current year.

argenx 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.