Central Pacific Bank Trust Division Acquires Shares of 1,000 argenx SE (NASDAQ:ARGX)

Central Pacific Bank Trust Division bought a new position in argenx SE (NASDAQ:ARGX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,000 shares of the company’s stock, valued at approximately $615,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in argenx by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 252 shares of the company’s stock worth $155,000 after purchasing an additional 78 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of argenx in the 3rd quarter worth approximately $88,339,000. Wilmington Savings Fund Society FSB bought a new position in shares of argenx in the third quarter valued at approximately $652,000. Sanctuary Advisors LLC increased its position in shares of argenx by 17.5% during the third quarter. Sanctuary Advisors LLC now owns 2,064 shares of the company’s stock valued at $1,119,000 after acquiring an additional 308 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in argenx by 7.2% during the third quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock worth $2,335,000 after acquiring an additional 289 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ARGX shares. Guggenheim upped their price objective on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. Oppenheimer reiterated an “outperform” rating and issued a $675.00 target price (up from $646.00) on shares of argenx in a research note on Thursday, November 21st. Robert W. Baird lowered shares of argenx from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $515.00 to $650.00 in a research note on Friday, November 1st. Finally, Piper Sandler upped their price objective on argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $639.78.

argenx Price Performance

NASDAQ ARGX opened at $621.29 on Friday. The company’s 50 day simple moving average is $605.35 and its two-hundred day simple moving average is $539.24. argenx SE has a 1 year low of $349.86 and a 1 year high of $644.97. The stock has a market capitalization of $37.51 billion, a PE ratio of -706.01 and a beta of 0.59.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $543.29 million. During the same quarter last year, the business posted ($1.25) earnings per share. On average, research analysts anticipate that argenx SE will post 2.2 EPS for the current year.

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.