Raymond James Trust N.A. Acquires 28 Shares of argenx SE (NASDAQ:ARGX)

Raymond James Trust N.A. lifted its holdings in shares of argenx SE (NASDAQ:ARGX) by 6.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 495 shares of the company’s stock after purchasing an additional 28 shares during the period. Raymond James Trust N.A.’s holdings in argenx were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARGX. Advisors Asset Management Inc. lifted its position in argenx by 79.3% during the 1st quarter. Advisors Asset Management Inc. now owns 588 shares of the company’s stock worth $232,000 after buying an additional 260 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of argenx by 14.2% during the first quarter. Silvercrest Asset Management Group LLC now owns 5,184 shares of the company’s stock worth $2,041,000 after purchasing an additional 646 shares in the last quarter. Wahed Invest LLC grew its stake in shares of argenx by 43.5% during the first quarter. Wahed Invest LLC now owns 656 shares of the company’s stock valued at $258,000 after purchasing an additional 199 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of argenx in the first quarter valued at approximately $419,000. Finally, DekaBank Deutsche Girozentrale raised its position in argenx by 1.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,445 shares of the company’s stock worth $3,320,000 after purchasing an additional 128 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Stock Performance

Shares of ARGX opened at $614.59 on Thursday. The stock has a 50 day simple moving average of $560.78 and a 200 day simple moving average of $492.76. argenx SE has a 52-week low of $327.73 and a 52-week high of $620.28. The firm has a market capitalization of $37.10 billion, a PE ratio of -698.40 and a beta of 0.61.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The business had revenue of $588.88 million for the quarter, compared to analyst estimates 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 period last year, the business posted ($1.25) earnings per share. Equities research analysts predict that argenx SE will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $675.00 price objective (up from $646.00) on shares of argenx in a research report on Thursday, November 21st. Evercore ISI raised their price target on argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. HC Wainwright reissued a “buy” rating and set a $617.00 price objective on shares of argenx in a report on Wednesday, November 20th. Citigroup raised their target price on shares of argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Wolfe Research raised shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price target for the company in a research note on Tuesday, November 12th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $630.42.

About argenx

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.