First Turn Management LLC Has $29.51 Million Stock Position in argenx SE (NASDAQ:ARGX)

First Turn Management LLC cut its position in argenx SE (NASDAQ:ARGX) by 31.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 54,440 shares of the company’s stock after selling 25,538 shares during the period. argenx comprises about 4.7% of First Turn Management LLC’s portfolio, making the stock its 2nd biggest holding. First Turn Management LLC’s holdings in argenx were worth $29,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ARGX. Price T Rowe Associates Inc. MD boosted its stake in argenx by 49.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after purchasing an additional 1,830,651 shares during the period. Janus Henderson Group PLC boosted its stake in argenx by 24.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after purchasing an additional 439,889 shares during the period. Perpetual Ltd bought a new stake in shares of argenx during the 3rd quarter valued at $76,314,000. Logos Global Management LP bought a new stake in shares of argenx during the 2nd quarter valued at $58,055,000. Finally, Sei Investments Co. lifted its position in shares of argenx by 15.2% during the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after acquiring an additional 50,477 shares during the period. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Raymond James reiterated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a research report on Thursday, October 10th. Piper Sandler upped their target price on argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Oppenheimer upped their target price on argenx from $560.00 to $646.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Baird R W downgraded argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Three investment 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $619.79.

argenx Stock Up 0.7 %

Shares of ARGX opened at $567.90 on Tuesday. argenx SE has a 12-month low of $327.73 and a 12-month high of $611.22. The business has a 50-day simple moving average of $553.20 and a two-hundred day simple moving average of $483.88. The stock has a market cap of $33.96 billion, a PE ratio of -645.34 and a beta of 0.61.

argenx (NASDAQ:ARGX) last issued its quarterly 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 return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter in the prior year, the firm posted ($1.25) earnings per share. On average, equities research analysts expect that argenx SE will post 2.2 EPS for the current 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.