Victory Capital Management Inc. Acquires 642 Shares of argenx SE (NASDAQ:ARGX)

Victory Capital Management Inc. boosted its holdings in shares of argenx SE (NASDAQ:ARGX) by 69.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,562 shares of the company’s stock after purchasing an additional 642 shares during the period. Victory Capital Management Inc.’s holdings in argenx were worth $847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Clearbridge Investments LLC lifted its stake in argenx by 3.6% during the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock worth $265,535,000 after purchasing an additional 21,189 shares during the period. Sei Investments Co. increased its holdings in shares of argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after buying an additional 50,477 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of argenx by 2.2% during the second quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock worth $71,212,000 after buying an additional 3,506 shares in the last quarter. Perpetual Ltd acquired a new stake in shares of argenx during the third quarter worth approximately $76,314,000. Finally, Logos Global Management LP acquired a new stake in shares of argenx during the second quarter worth approximately $58,055,000. Institutional investors own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

ARGX has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Guggenheim lifted their target price on shares of argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Raymond James reaffirmed a “strong-buy” rating and set a $605.00 target price on shares of argenx in a report on Thursday, October 10th. Finally, HC Wainwright reissued a “buy” rating and set a $617.00 price target on shares of argenx in a research report on Wednesday, November 20th. Three equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $630.42.

argenx Price Performance

argenx stock opened at $614.59 on Thursday. The firm has a market capitalization of $37.10 billion, a PE ratio of -698.40 and a beta of 0.61. The company’s 50-day moving average is $560.78 and its 200-day moving average is $492.76. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $620.28.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same quarter in the prior year, the business earned ($1.25) EPS. As a group, analysts expect 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.