Raymond James Financial Inc. Takes Position in argenx SE (NASDAQ:ARGX)

Raymond James Financial Inc. acquired a new stake in shares of argenx SE (NASDAQ:ARGX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,802 shares of the company's stock, valued at approximately $43,543,000. Raymond James Financial Inc. owned 0.12% of argenx at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp boosted its stake in argenx by 15.3% during the third quarter. Stifel Financial Corp now owns 8,832 shares of the company's stock worth $4,788,000 after buying an additional 1,170 shares during the period. Stephens Inc. AR bought a new position in argenx during the 4th quarter valued at about $310,000. Ritholtz Wealth Management raised its position in argenx by 85.5% in the 4th quarter. Ritholtz Wealth Management now owns 898 shares of the company's stock worth $552,000 after purchasing an additional 414 shares during the period. Jones Financial Companies Lllp lifted its stake in argenx by 1,016.7% in the fourth quarter. Jones Financial Companies Lllp now owns 67 shares of the company's stock worth $41,000 after purchasing an additional 61 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of argenx during the third quarter valued at approximately $652,000. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. 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 report on Tuesday, March 4th. Citigroup lifted their price objective on shares of argenx from $681.00 to $796.00 and gave the company a "buy" rating in a report on Thursday. Wedbush restated an "outperform" rating and issued a $715.00 target price on shares of argenx in a research note on Friday, April 11th. William Blair reaffirmed an "outperform" rating on shares of argenx in a research note on Friday, February 28th. Finally, Truist Financial restated a "buy" rating and set a $700.00 price objective (up from $660.00) on shares of argenx in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $699.28.

argenx Price Performance

argenx stock traded up $8.61 during midday trading on Friday, reaching $596.20. The company had a trading volume of 321,813 shares, compared to its average volume of 308,970. argenx SE has a 12-month low of $352.77 and a 12-month high of $678.21. The firm's fifty day simple moving average is $602.53 and its 200-day simple moving average is $606.37. The company has a market capitalization of $36.23 billion, a P/E ratio of -677.50 and a beta of 0.60.

argenx (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.58 EPS for the quarter, beating the consensus estimate 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. On average, analysts expect that argenx SE will post 3.13 EPS 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.