Janney Montgomery Scott LLC Buys 1,384 Shares of argenx SE (NASDAQ:ARGX)

Janney Montgomery Scott LLC boosted its stake in shares of argenx SE (NASDAQ:ARGX - Free Report) by 201.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,072 shares of the company's stock after buying an additional 1,384 shares during the period. Janney Montgomery Scott LLC's holdings in argenx were worth $1,123,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. J.Safra Asset Management Corp raised its stake in shares of argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company's stock worth $30,000 after purchasing an additional 59 shares during the last quarter. Blue Trust Inc. lifted its stake in argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company's stock valued at $28,000 after acquiring an additional 62 shares during the period. GAMMA Investing LLC boosted its holdings in shares of argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company's stock valued at $51,000 after acquiring an additional 40 shares during the last quarter. Cromwell Holdings LLC grew its stake in shares of argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock worth $85,000 after acquiring an additional 66 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of argenx during the second quarter valued at approximately $76,000. 60.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on ARGX shares. Citigroup lifted their target price on shares of argenx from $512.00 to $635.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Truist Financial upped their price objective on argenx from $540.00 to $660.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Baird R W downgraded argenx from a "strong-buy" rating to a "hold" rating in a report on Friday, November 1st. Robert W. Baird downgraded argenx from an "outperform" rating to a "neutral" rating and boosted their price target for the company from $515.00 to $650.00 in a research note on Friday, November 1st. Finally, Wedbush increased their price objective on shares of argenx from $519.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Three 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, argenx has an average rating of "Moderate Buy" and an average price target of $619.79.

argenx Stock Down 5.2 %

ARGX stock traded down $30.81 during midday trading on Friday, hitting $564.23. The company's stock had a trading volume of 614,306 shares, compared to its average volume of 309,100. The firm has a market capitalization of $33.74 billion, a price-to-earnings ratio of -641.16 and a beta of 0.61. argenx SE has a 12 month low of $327.73 and a 12 month high of $611.22. The company has a 50 day moving average of $552.89 and a two-hundred day moving average of $481.96.

argenx (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.10 by $1.29. The company had revenue of $588.88 million during the quarter, compared to analysts' expectations of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same period last year, the company posted ($1.25) earnings per share. On average, analysts anticipate that argenx SE will post 2.2 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.