Ameriprise Financial Inc. Boosts Stock Holdings in argenx SE (NASDAQ:ARGX)

Ameriprise Financial Inc. raised its holdings in shares of argenx SE (NASDAQ:ARGX) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,013 shares of the company’s stock after buying an additional 639 shares during the period. Ameriprise Financial Inc.’s holdings in argenx were worth $4,313,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ARGX. Acuta Capital Partners LLC raised its stake in shares of argenx by 17.1% during the fourth quarter. Acuta Capital Partners LLC now owns 6,910 shares of the company’s stock valued at $4,250,000 after acquiring an additional 1,010 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of argenx during the fourth quarter valued at about $17,158,000. Schonfeld Strategic Advisors LLC bought a new position in shares of argenx during the fourth quarter valued at about $3,301,000. Northern Trust Corp raised its stake in shares of argenx by 42.7% during the fourth quarter. Northern Trust Corp now owns 54,128 shares of the company’s stock valued at $33,289,000 after acquiring an additional 16,188 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of argenx by 0.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 62,113 shares of the company’s stock valued at $38,199,000 after acquiring an additional 527 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ARGX. Wells Fargo & Company upped their price objective 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. Citigroup reaffirmed a “buy” rating on shares of argenx in a research note on Wednesday. Oppenheimer upped their price objective on shares of argenx from $704.00 to $708.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft raised shares of argenx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, Baird R W raised shares of argenx from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, argenx currently has a consensus rating of “Buy” and a consensus price target of $698.11.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $587.61 on Monday. argenx SE has a fifty-two week low of $359.37 and a fifty-two week high of $678.21. The company has a 50 day simple moving average of $589.78 and a two-hundred day simple moving average of $613.14. The company has a market capitalization of $35.88 billion, a price-to-earnings ratio of -667.74 and a beta of 0.57.

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

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.