Cerity Partners LLC Increases Stock Position in argenx SE (NASDAQ:ARGX)

Cerity Partners LLC boosted its position in shares of argenx SE (NASDAQ:ARGX) by 124.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,026 shares of the company’s stock after buying an additional 569 shares during the quarter. Cerity Partners LLC’s holdings in argenx were worth $390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of argenx by 29.4% during the 3rd quarter. CWM LLC now owns 207 shares of the company’s stock valued at $102,000 after acquiring an additional 47 shares during the period. DAVENPORT & Co LLC grew its holdings in argenx by 11.8% in the third quarter. DAVENPORT & Co LLC now owns 1,407 shares of the company’s stock valued at $692,000 after purchasing an additional 148 shares during the period. Handelsbanken Fonder AB increased its position in shares of argenx by 5.2% in the third quarter. Handelsbanken Fonder AB now owns 27,466 shares of the company’s stock valued at $13,503,000 after buying an additional 1,364 shares in the last quarter. Raymond James & Associates raised its stake in shares of argenx by 132.3% during the 3rd quarter. Raymond James & Associates now owns 33,771 shares of the company’s stock worth $16,603,000 after buying an additional 19,232 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of argenx by 15.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 11,096 shares of the company’s stock worth $5,455,000 after buying an additional 1,518 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ARGX. Wolfe Research started coverage on shares of argenx in a report on Thursday, February 15th. They issued a “peer perform” rating for the company. Scotiabank boosted their target price on shares of argenx from $402.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 26th. Truist Financial raised their price target on shares of argenx from $370.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. HC Wainwright reiterated a “buy” rating and set a $451.00 price objective on shares of argenx in a research note on Thursday, April 18th. Finally, Piper Sandler raised their target price on argenx from $518.00 to $522.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, argenx currently has an average rating of “Moderate Buy” and a consensus target price of $528.16.

argenx Price Performance

Shares of ARGX stock opened at $372.80 on Friday. The company has a market capitalization of $22.16 billion, a PE ratio of -72.53 and a beta of 0.65. The firm’s 50-day moving average is $385.91 and its two-hundred day moving average is $417.83. argenx SE has a 12 month low of $327.73 and a 12 month high of $550.76.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.45). argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. The firm had revenue of $417.84 million for the quarter, compared to analysts’ expectations of $378.60 million. During the same period in the previous year, the firm posted ($0.70) EPS. Sell-side analysts forecast that argenx SE will post -2.09 EPS for the current 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.