argenx SE (NASDAQ:ARGX) Stock Position Lifted by Raymond James Trust N.A.

Raymond James Trust N.A. raised its stake in argenx SE (NASDAQ:ARGX) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 495 shares of the company’s stock after buying an additional 28 shares during the quarter. Raymond James Trust N.A.’s holdings in argenx were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARGX. Perpetual Ltd acquired a new position in shares of argenx in the third quarter worth $76,314,000. Logos Global Management LP purchased a new stake in shares of argenx during the 2nd quarter worth about $58,055,000. Sei Investments Co. lifted its holdings in shares of argenx by 15.2% during the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after buying an additional 50,477 shares during the last quarter. Tri Locum Partners LP grew its stake in shares of argenx by 166.5% in the 2nd quarter. Tri Locum Partners LP now owns 74,558 shares of the company’s stock valued at $32,063,000 after buying an additional 46,577 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in argenx in the third quarter worth approximately $15,609,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ARGX. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Evercore ISI upped their price objective on shares of argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. HC Wainwright restated a “buy” rating and set a $617.00 target price on shares of argenx in a report on Wednesday, November 20th. JMP Securities upped their price target on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial raised their price objective on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, argenx has a consensus rating of “Moderate Buy” and an average target price of $630.42.

argenx Price Performance

ARGX opened at $614.59 on Thursday. The company has a market capitalization of $37.10 billion, a P/E ratio of -698.40 and a beta of 0.61. The firm’s fifty day moving average price is $560.78 and its two-hundred day moving average price is $492.76. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $620.28.

argenx (NASDAQ:ARGX) last announced its quarterly 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. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The firm had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the prior year, the business posted ($1.25) earnings per share. On average, equities research analysts expect that argenx SE will post 2.2 EPS for the current fiscal 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.