Federated Hermes Inc. Raises Stake in argenx SE (NASDAQ:ARGX)

Federated Hermes Inc. boosted its holdings in shares of argenx SE (NASDAQ:ARGX) by 7.4% during the 4th quarter, HoldingsChannel reports. The firm owned 356,507 shares of the company’s stock after purchasing an additional 24,416 shares during the period. Federated Hermes Inc.’s holdings in argenx were worth $135,626,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARGX. Massachusetts Financial Services Co. MA grew its position in argenx by 339.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 581,586 shares of the company’s stock worth $285,925,000 after purchasing an additional 449,151 shares during the last quarter. Morgan Stanley raised its position in argenx by 236.9% during the fourth quarter. Morgan Stanley now owns 630,330 shares of the company’s stock worth $238,788,000 after acquiring an additional 443,217 shares during the last quarter. Jennison Associates LLC raised its position in argenx by 32.2% during the third quarter. Jennison Associates LLC now owns 1,511,745 shares of the company’s stock worth $743,219,000 after acquiring an additional 368,367 shares during the last quarter. Invesco Ltd. raised its position in argenx by 377.0% during the third quarter. Invesco Ltd. now owns 430,787 shares of the company’s stock worth $211,788,000 after acquiring an additional 340,482 shares during the last quarter. Finally, Bank of America Corp DE raised its position in argenx by 185.1% during the first quarter. Bank of America Corp DE now owns 297,832 shares of the company’s stock worth $110,966,000 after acquiring an additional 193,353 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of argenx from $370.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Piper Sandler boosted their target price on shares of argenx from $518.00 to $522.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. William Blair downgraded shares of argenx from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 20th. Evercore ISI dropped their target price on shares of argenx from $594.00 to $436.00 and set an “outperform” rating on the stock in a report on Thursday, December 21st. Finally, Wolfe Research started coverage on shares of argenx in a report on Thursday, February 15th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $528.16.

argenx Stock Performance

Shares of ARGX stock traded down $2.73 during trading on Thursday, hitting $363.47. 113,244 shares of the company were exchanged, compared to its average volume of 317,431. The firm has a market capitalization of $21.55 billion, a price-to-earnings ratio of -70.37 and a beta of 0.65. The business’s 50-day simple moving average is $388.98 and its 200 day simple moving average is $422.26. argenx SE has a twelve month low of $327.73 and a twelve month high of $550.76.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.45). The company had revenue of $417.84 million for the quarter, compared to analyst estimates of $378.60 million. argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. During the same quarter in the prior year, the business posted ($0.70) earnings per share. On average, equities analysts forecast that argenx SE will post -2.11 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.