Central Pacific Bank Trust Division Invests $615,000 in argenx SE (NASDAQ:ARGX)

Central Pacific Bank Trust Division acquired a new position in shares of argenx SE (NASDAQ:ARGX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,000 shares of the company’s stock, valued at approximately $615,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after purchasing an additional 1,265,486 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of argenx during the 3rd quarter valued at about $88,339,000. Perpetual Ltd bought a new stake in argenx in the 3rd quarter worth approximately $76,314,000. Logos Global Management LP purchased a new stake in argenx in the second quarter worth approximately $58,055,000. Finally, Wellington Management Group LLP grew its position in argenx by 13.0% during the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock valued at $261,470,000 after acquiring an additional 55,617 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ARGX shares. HC Wainwright restated a “buy” rating and issued a $617.00 price objective on shares of argenx in a report on Wednesday, November 20th. Guggenheim upped their price target on shares of argenx from $585.00 to $665.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Truist Financial raised their price objective on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird lowered argenx from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $515.00 to $650.00 in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $639.78.

argenx Price Performance

ARGX stock opened at $621.29 on Friday. The firm has a 50-day moving average of $605.35 and a 200 day moving average of $539.24. The company has a market cap of $37.51 billion, a P/E ratio of -706.01 and a beta of 0.59. argenx SE has a 1 year low of $349.86 and a 1 year high of $644.97.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter last year, the business posted ($1.25) EPS. On average, equities research 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.