Westfield Capital Management Co. LP Purchases New Position in argenx SE (NASDAQ:ARGX)

Westfield Capital Management Co. LP acquired a new stake in argenx SE (NASDAQ:ARGX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,053 shares of the company’s stock, valued at approximately $571,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fiera Capital Corp lifted its stake in shares of argenx by 2.2% in the 2nd quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock valued at $71,212,000 after acquiring an additional 3,506 shares during the last quarter. Cetera Advisors LLC bought a new position in argenx in the first quarter valued at about $419,000. Simplify Asset Management Inc. grew its holdings in shares of argenx by 64.0% during the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after purchasing an additional 944 shares during the last quarter. Perpetual Ltd bought a new stake in shares of argenx during the third quarter worth about $76,314,000. Finally, Varma Mutual Pension Insurance Co increased its stake in shares of argenx by 20.0% in the second quarter. Varma Mutual Pension Insurance Co now owns 6,000 shares of the company’s stock valued at $2,580,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenx Stock Performance

Shares of argenx stock opened at $605.66 on Tuesday. The stock has a market capitalization of $36.56 billion, a PE ratio of -688.25 and a beta of 0.61. argenx SE has a 52 week low of $327.73 and a 52 week high of $618.40. The stock has a 50 day moving average price of $557.73 and a two-hundred day moving average price of $489.55.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ARGX. Piper Sandler lifted their target price on shares of argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Guggenheim lifted their price target on shares of argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft downgraded argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. William Blair raised argenx from a “market perform” rating to an “outperform” rating in a report on Friday, November 1st. Finally, Wolfe Research raised argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price target for the company in a research note on Tuesday, November 12th. 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. Based on data from MarketBeat.com, argenx currently has an average rating of “Moderate Buy” and an average price target of $630.42.

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.