US Bancorp DE Acquires 316 Shares of argenx SE (NASDAQ:ARGX)

US Bancorp DE raised its stake in argenx SE (NASDAQ:ARGX) by 7.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,350 shares of the company’s stock after acquiring an additional 316 shares during the period. US Bancorp DE’s holdings in argenx were worth $2,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ARGX. China Universal Asset Management Co. Ltd. grew its holdings in shares of argenx by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,174 shares of the company’s stock worth $3,347,000 after buying an additional 2,410 shares in the last quarter. Cromwell Holdings LLC lifted its stake in argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after acquiring an additional 66 shares in the last quarter. Mediolanum International Funds Ltd lifted its stake in argenx by 49.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 15,984 shares of the company’s stock valued at $8,550,000 after acquiring an additional 5,290 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of argenx during the 3rd quarter worth approximately $239,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of argenx during the 3rd quarter worth approximately $15,609,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ARGX shares. JPMorgan Chase & Co. increased their target price on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday. JMP Securities increased their price objective on shares of argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. William Blair raised argenx from a “market perform” rating to an “outperform” rating in a research report on Friday, November 1st. Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $439.00 to $715.00 in a research report on Tuesday. Finally, Oppenheimer boosted their price target on argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $615.50.

argenx Stock Down 2.2 %

argenx stock opened at $588.97 on Thursday. argenx SE has a twelve month low of $327.73 and a twelve month high of $611.22. The stock has a market cap of $35.22 billion, a P/E ratio of -669.28 and a beta of 0.61. The company’s 50-day moving average price is $544.00 and its two-hundred day moving average price is $471.34.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The company had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter last year, the company earned ($1.25) earnings per share. Equities analysts anticipate that argenx SE will post -0.22 earnings per share for the current fiscal 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.