Fred Alger Management LLC Takes Position in argenx SE (NASDAQ:ARGX)

Fred Alger Management LLC purchased a new position in argenx SE (NASDAQ:ARGX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,156 shares of the company’s stock, valued at approximately $1,326,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARGX. Driehaus Capital Management LLC lifted its position in shares of argenx by 3.7% in the 4th quarter. Driehaus Capital Management LLC now owns 47,354 shares of the company’s stock worth $29,123,000 after purchasing an additional 1,699 shares during the period. Eagle Global Advisors LLC lifted its stake in shares of argenx by 5.8% in the 4th quarter. Eagle Global Advisors LLC now owns 5,500 shares of the company’s stock valued at $3,382,000 after purchasing an additional 300 shares during the period. Cetera Investment Advisers boosted its position in shares of argenx by 27.0% during the fourth quarter. Cetera Investment Advisers now owns 4,127 shares of the company’s stock valued at $2,538,000 after purchasing an additional 877 shares in the last quarter. Bayesian Capital Management LP grew its stake in argenx by 38.0% in the fourth quarter. Bayesian Capital Management LP now owns 621 shares of the company’s stock worth $382,000 after purchasing an additional 171 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in argenx by 138.4% in the fourth quarter. BNP Paribas Financial Markets now owns 10,232 shares of the company’s stock worth $6,293,000 after purchasing an additional 5,940 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Analyst Ratings Changes

ARGX has been the topic of a number of recent research reports. JMP Securities upped their target price on shares of argenx from $606.00 to $696.00 and gave the stock a “market outperform” rating in a research report on Tuesday, January 14th. Wells Fargo & Company raised their target price on shares of argenx from $723.00 to $741.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Wedbush restated an “outperform” rating and issued a $715.00 price target on shares of argenx in a research note on Friday, April 11th. HC Wainwright reiterated a “buy” rating and set a $720.00 price objective on shares of argenx in a research note on Tuesday, April 8th. Finally, Oppenheimer increased their target price on argenx from $704.00 to $708.00 and gave the stock an “outperform” rating in a research note on Friday. Three 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $697.94.

argenx Stock Performance

Shares of ARGX stock opened at $549.65 on Friday. The stock has a fifty day simple moving average of $596.27 and a two-hundred day simple moving average of $613.38. The firm has a market capitalization of $33.56 billion, a PE ratio of -624.60 and a beta of 0.57. argenx SE has a 52-week low of $352.77 and a 52-week high of $678.21.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.26. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $748.34 million. On average, sell-side analysts forecast that argenx SE will post 3.13 EPS 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.