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

Erste Asset Management GmbH bought a new position in shares of argenx SE (NASDAQ:ARGX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,800 shares of the company’s stock, valued at approximately $9,007,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after purchasing an additional 62 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of argenx by 590.0% during the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after purchasing an additional 59 shares in the last quarter. GAMMA Investing LLC increased its holdings in argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after buying an additional 40 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in argenx in the second quarter valued at $76,000. Finally, Cromwell Holdings LLC lifted its holdings in argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ARGX. Deutsche Bank Aktiengesellschaft downgraded argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. JMP Securities increased their price target on shares of argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $617.00 target price on shares of argenx in a report on Wednesday, November 20th. Finally, Wells Fargo & Company increased their target price on shares of argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Three 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $630.42.

argenx Price Performance

NASDAQ:ARGX opened at $616.55 on Monday. The firm has a market cap of $37.22 billion, a price-to-earnings ratio of -700.63 and a beta of 0.61. The firm’s fifty day moving average price is $565.73 and its 200 day moving average price is $497.22. argenx SE has a 1-year low of $327.73 and a 1-year 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 the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same quarter in the previous year, the firm earned ($1.25) earnings per share. As a group, analysts expect that argenx SE will post 2.2 earnings per share 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.