HighTower Advisors LLC Raises Position in argenx SE (NASDAQ:ARGX)

HighTower Advisors LLC boosted its holdings in argenx SE (NASDAQ:ARGX) by 128.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,677 shares of the company’s stock after purchasing an additional 6,006 shares during the period. HighTower Advisors LLC’s holdings in argenx were worth $6,566,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Amundi lifted its stake in shares of argenx by 2.2% in the 4th quarter. Amundi now owns 5,873 shares of the company’s stock valued at $3,813,000 after acquiring an additional 127 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new stake in argenx in the fourth quarter valued at approximately $220,000. PNC Financial Services Group Inc. boosted its stake in shares of argenx by 13.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the company’s stock valued at $946,000 after purchasing an additional 181 shares during the period. West Family Investments Inc. bought a new position in shares of argenx in the fourth quarter worth approximately $251,000. Finally, Callan Family Office LLC purchased a new position in shares of argenx in the fourth quarter worth $396,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ARGX. JMP Securities raised their price target on shares of argenx from $606.00 to $696.00 and gave the stock a “market outperform” rating in a report on Tuesday, January 14th. Sanford C. Bernstein upgraded argenx from a “market perform” rating to an “outperform” rating in a report on Monday. Robert W. Baird increased their price objective on argenx from $650.00 to $680.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Guggenheim boosted their target price on argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $655.00 price target on shares of argenx in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $687.00.

argenx Trading Down 0.5 %

Shares of NASDAQ:ARGX opened at $611.18 on Wednesday. The stock has a fifty day simple moving average of $636.83 and a two-hundred day simple moving average of $598.22. argenx SE has a 12-month low of $349.86 and a 12-month high of $678.21. The stock has a market capitalization of $37.14 billion, a price-to-earnings ratio of -694.52 and a beta of 0.59.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The firm had revenue of $761.22 million during the quarter, compared to analyst estimates of $678.52 million. As a group, equities research analysts predict that argenx SE will post 3.13 EPS 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.