Point72 Asset Management L.P. Invests $91.01 Million in argenx SE (NASDAQ:ARGX)

Point72 Asset Management L.P. bought a new position in shares of argenx SE (NASDAQ:ARGX) in the fourth quarter, Holdings Channel reports. The institutional investor bought 147,989 shares of the company’s stock, valued at approximately $91,013,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its stake in argenx by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock worth $31,000 after buying an additional 18 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of argenx in the 4th quarter worth approximately $37,000. Global Retirement Partners LLC boosted its holdings in shares of argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock worth $38,000 after acquiring an additional 48 shares in the last quarter. FIL Ltd bought a new stake in argenx during the 4th quarter worth approximately $38,000. Finally, Jones Financial Companies Lllp increased its holdings in argenx by 1,016.7% during the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock valued at $41,000 after purchasing an additional 61 shares in the last quarter. 60.32% of the stock is owned by institutional investors.

argenx Stock Down 1.9%

ARGX stock opened at $532.27 on Thursday. argenx SE has a twelve month low of $356.38 and a twelve month high of $678.21. The company has a market cap of $32.50 billion, a P/E ratio of -604.85 and a beta of 0.57. The business’s fifty day moving average is $592.11 and its 200-day moving average is $612.79.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, May 8th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.26. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $748.34 million. Research analysts anticipate that argenx SE will post 3.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ARGX. Guggenheim decreased their target price on argenx from $1,100.00 to $1,065.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Baird R W upgraded shares of argenx from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Oppenheimer raised their price objective on shares of argenx from $704.00 to $708.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. Wells Fargo & Company boosted their target price on shares of argenx from $723.00 to $741.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Citigroup reissued an “outperform” rating on shares of argenx in a research note on Wednesday. One analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $698.11.

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.