Assenagon Asset Management S.A. Takes Position in argenx SE (NASDAQ:ARGX)

Assenagon Asset Management S.A. acquired a new stake in shares of argenx SE (NASDAQ:ARGX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,794 shares of the company’s stock, valued at approximately $15,609,000.

Several other large investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in argenx during the third quarter valued at $105,790,000. Greenleaf Trust bought a new stake in argenx during the third quarter valued at $325,000. Signaturefd LLC boosted its stake in argenx by 17.3% during the third quarter. Signaturefd LLC now owns 1,637 shares of the company’s stock valued at $887,000 after buying an additional 242 shares during the period. Blue Trust Inc. boosted its stake in argenx by 413.9% during the third quarter. Blue Trust Inc. now owns 370 shares of the company’s stock valued at $201,000 after buying an additional 298 shares during the period. Finally, Aaron Wealth Advisors LLC bought a new stake in argenx during the third quarter valued at $241,000. Institutional investors own 60.32% of the company’s stock.

argenx Stock Performance

ARGX stock opened at $556.83 on Friday. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $571.97. The business’s 50 day moving average price is $534.84 and its two-hundred day moving average price is $459.81. The company has a market capitalization of $33.09 billion, a price-to-earnings ratio of -98.38 and a beta of 0.63.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $489.43 million for the quarter, compared to the consensus estimate of $436.66 million. During the same quarter in the prior year, the business earned ($1.69) EPS. Sell-side analysts forecast that argenx SE will post -0.37 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Oppenheimer raised argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price target for the company in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Guggenheim reaffirmed a “buy” rating and set a $585.00 price target on shares of argenx in a research note on Thursday, September 26th. Robert W. Baird lifted their price target on argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Evercore ISI lifted their price target on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $550.44.

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.