Lord Abbett & CO. LLC Makes New Investment in argenx SE (NASDAQ:ARGX)

Lord Abbett & CO. LLC purchased a new position in shares of argenx SE (NASDAQ:ARGX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 162,963 shares of the company’s stock, valued at approximately $88,339,000. Lord Abbett & CO. LLC owned about 0.27% of argenx at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Profund Advisors LLC increased its stake in argenx by 3.0% in the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock valued at $418,000 after purchasing an additional 28 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in shares of argenx by 6.0% in the 3rd quarter. Raymond James Trust N.A. now owns 495 shares of the company’s stock valued at $268,000 after buying an additional 28 shares in the last quarter. Wealth Alliance grew its position in shares of argenx by 4.8% in the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after buying an additional 29 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of argenx by 8.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 528 shares of the company’s stock valued at $286,000 after buying an additional 43 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in argenx by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenx Stock Performance

ARGX stock opened at $607.21 on Friday. The stock’s 50 day moving average price is $581.03 and its 200 day moving average price is $513.48. The firm has a market cap of $36.66 billion, a P/E ratio of -690.01 and a beta of 0.59. argenx SE has a 1 year low of $327.73 and a 1 year high of $630.00.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same quarter last year, the company earned ($1.25) earnings per share. On average, research analysts predict that argenx SE will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on ARGX. Citigroup lifted their price target on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Wolfe Research upgraded shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective on the stock in a research note on Tuesday, November 12th. Raymond James reissued a “strong-buy” rating and set a $605.00 price target on shares of argenx in a report on Thursday, October 10th. Baird R W downgraded argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, JMP Securities upped their price target on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $635.11.

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.