HighTower Advisors LLC Buys 6,006 Shares of argenx SE (NASDAQ:ARGX)

HighTower Advisors LLC grew its position in shares of argenx SE (NASDAQ:ARGX) by 128.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,677 shares of the company’s stock after acquiring an additional 6,006 shares during the quarter. HighTower Advisors LLC’s holdings in argenx were worth $6,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ARGX. Victory Capital Management Inc. grew its position in argenx by 69.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,562 shares of the company’s stock worth $847,000 after purchasing an additional 642 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of argenx in the 3rd quarter worth approximately $453,000. OneDigital Investment Advisors LLC lifted its holdings in argenx by 13.2% during the third quarter. OneDigital Investment Advisors LLC now owns 1,194 shares of the company’s stock worth $647,000 after acquiring an additional 139 shares during the period. Natixis Advisors LLC boosted its position in argenx by 13.0% in the third quarter. Natixis Advisors LLC now owns 12,014 shares of the company’s stock worth $6,513,000 after purchasing an additional 1,379 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in argenx by 1.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 37,352 shares of the company’s stock valued at $20,248,000 after purchasing an additional 564 shares during the period. Institutional investors own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ARGX shares. Sanford C. Bernstein raised shares of argenx from a “market perform” rating to an “outperform” rating in a report on Monday. Wells Fargo & Company boosted 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. William Blair restated an “outperform” rating on shares of argenx in a research note on Friday, February 28th. Robert W. Baird upped their price objective on argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, HC Wainwright increased their price objective on argenx from $717.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $687.00.

argenx Stock Performance

NASDAQ:ARGX opened at $611.18 on Wednesday. argenx SE has a 52-week low of $349.86 and a 52-week high of $678.21. The stock has a fifty day moving average of $636.83 and a 200 day moving average of $598.22. The firm has a market capitalization of $37.14 billion, a price-to-earnings ratio of -694.52 and a beta of 0.59.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The firm had revenue of $761.22 million during the quarter, compared to the consensus estimate of $678.52 million. Equities analysts forecast that argenx SE will post 3.13 earnings per share for the current fiscal 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.