Advisors Asset Management Inc. Has $503,000 Stock Position in argenx SE (NASDAQ:ARGX)

Advisors Asset Management Inc. lifted its stake in shares of argenx SE (NASDAQ:ARGX) by 15.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 927 shares of the company’s stock after purchasing an additional 123 shares during the period. Advisors Asset Management Inc.’s holdings in argenx were worth $503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ARGX. Perpetual Ltd bought a new stake in shares of argenx during the 3rd quarter worth approximately $76,314,000. Logos Global Management LP bought a new stake in shares of argenx during the 2nd quarter worth approximately $58,055,000. Sei Investments Co. raised its stake in shares of argenx by 15.2% during the 2nd 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 in the last quarter. Tri Locum Partners LP raised its stake in shares of argenx by 166.5% during the 2nd 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. Finally, Assenagon Asset Management S.A. bought a new stake in shares of argenx during the 3rd quarter worth approximately $15,609,000. Institutional investors own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. JMP Securities upped their price objective on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Citigroup increased their price target on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Finally, Truist Financial increased their price target 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $630.42.

argenx Stock Performance

ARGX opened at $614.59 on Thursday. The firm has a market cap of $37.10 billion, a P/E ratio of -698.40 and a beta of 0.61. argenx SE has a 52-week low of $327.73 and a 52-week high of $620.28. The business’s fifty day moving average is $560.78 and its 200-day moving average is $492.76.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. The company had revenue of $588.88 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted ($1.25) EPS. On average, research analysts predict that argenx SE will post 2.2 earnings per share for the current fiscal year.

argenx 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.