abrdn plc Makes New $27.95 Million Investment in argenx SE (NASDAQ:ARGX)

abrdn plc bought a new position in argenx SE (NASDAQ:ARGX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 73,476 shares of the company’s stock, valued at approximately $27,952,000.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its stake in argenx by 30.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock worth $5,505,000 after acquiring an additional 3,374 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of argenx by 388.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,719 shares of the company’s stock valued at $1,415,000 after purchasing an additional 2,958 shares during the last quarter. RTW Investments LP increased its position in shares of argenx by 5.2% during the 3rd quarter. RTW Investments LP now owns 507,195 shares of the company’s stock valued at $249,352,000 after purchasing an additional 25,000 shares during the last quarter. Townsquare Capital LLC increased its position in shares of argenx by 96.6% during the 3rd quarter. Townsquare Capital LLC now owns 3,442 shares of the company’s stock valued at $1,692,000 after purchasing an additional 1,691 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of argenx by 41.1% during the 3rd quarter. Northern Trust Corp now owns 39,936 shares of the company’s stock valued at $19,634,000 after purchasing an additional 11,627 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ARGX has been the topic of several recent research reports. Wedbush reiterated an “outperform” rating and set a $521.00 price objective on shares of argenx in a research report on Thursday, April 18th. HC Wainwright restated a “buy” rating and set a $451.00 target price on shares of argenx in a report on Thursday, April 18th. Scotiabank increased their target price on argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a report on Tuesday, March 26th. Piper Sandler increased their target price on argenx from $518.00 to $522.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, Wolfe Research assumed coverage on argenx in a report on Thursday, February 15th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, argenx currently has an average rating of “Moderate Buy” and a consensus price target of $528.16.

argenx Stock Up 2.4 %

ARGX stock opened at $368.75 on Tuesday. argenx SE has a twelve month low of $327.73 and a twelve month high of $550.76. The firm has a market cap of $21.91 billion, a PE ratio of -71.74 and a beta of 0.65. The business has a 50 day moving average of $386.95 and a 200 day moving average of $419.33.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $417.84 million for the quarter, compared to the consensus estimate of $378.60 million. During the same period last year, the business earned ($0.70) EPS. On average, research analysts expect that argenx SE will post -2.1 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.