iA Global Asset Management Inc. Makes New Investment in argenx SE (NASDAQ:ARGX)

iA Global Asset Management Inc. bought a new position in shares of argenx SE (NASDAQ:ARGX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,070 shares of the company’s stock, valued at approximately $2,610,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARGX. Blue Trust Inc. lifted its position in argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after acquiring an additional 62 shares during the last quarter. J.Safra Asset Management Corp raised its position in shares of argenx by 590.0% during the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after buying an additional 59 shares during the last quarter. GAMMA Investing LLC raised its position in shares of argenx by 420.0% during the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 63 shares during the last quarter. Mather Group LLC. acquired a new position in shares of argenx during the first quarter valued at about $38,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of argenx during the fourth quarter valued at about $60,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenx Trading Down 0.1 %

Shares of argenx stock opened at $517.32 on Friday. The stock has a market capitalization of $30.74 billion, a price-to-earnings ratio of -91.40 and a beta of 0.64. argenx SE has a 1-year low of $327.73 and a 1-year high of $540.49. The firm’s 50-day moving average price is $486.02 and its two-hundred day moving average price is $418.38.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of ($0.89) by $1.34. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The firm had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. During the same period in the prior year, the firm earned ($1.69) earnings per share. As a group, equities research analysts predict that argenx SE will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ARGX shares. Evercore ISI upped their price objective on shares of argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft raised shares of argenx from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th. Robert W. Baird upped their price objective on shares of argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Oppenheimer raised shares of argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price objective for the company in a research report on Tuesday, July 23rd. Finally, William Blair reissued a “market perform” rating on shares of argenx in a research note on Monday, June 17th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $547.74.

argenx Company 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.