Stifel Financial Corp Boosts Holdings in argenx SE (NASDAQ:ARGX)

Stifel Financial Corp raised its stake in shares of argenx SE (NASDAQ:ARGX) by 15.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,832 shares of the company’s stock after acquiring an additional 1,170 shares during the period. Stifel Financial Corp’s holdings in argenx were worth $4,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its stake in argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares in the last quarter. Perpetual Ltd bought a new stake in shares of argenx in the third quarter worth about $76,314,000. Logos Global Management LP purchased a new stake in shares of argenx in the second quarter worth about $58,055,000. Sei Investments Co. boosted its stake in argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after buying an additional 50,477 shares during the last quarter. Finally, Tri Locum Partners LP grew its holdings in argenx by 166.5% during the 2nd quarter. Tri Locum Partners LP now owns 74,558 shares of the company’s stock valued at $32,063,000 after buying an additional 46,577 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

argenx Price Performance

ARGX stock opened at $607.21 on Monday. argenx SE has a 12 month low of $327.73 and a 12 month high of $630.00. The firm’s 50-day moving average is $581.03 and its 200 day moving average is $515.48. The company has a market capitalization of $36.66 billion, a PE ratio of -690.01 and a beta of 0.59.

argenx (NASDAQ:ARGX) last posted its quarterly 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 firm had revenue of $588.88 million during 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 posted ($1.25) earnings per share. Sell-side analysts forecast that argenx SE will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ARGX has been the topic of several recent research reports. William Blair raised argenx from a “market perform” rating to an “outperform” rating in a report on Friday, November 1st. Robert W. Baird lowered shares of argenx from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $515.00 to $650.00 in a research report on Friday, November 1st. Piper Sandler lifted their price objective on shares of argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wolfe Research upgraded shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 target price on the stock in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price target on argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $635.11.

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.