argenx SE (NASDAQ:ARGX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its stake in shares of argenx SE (NASDAQ:ARGX) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,018 shares of the company’s stock after selling 2,204 shares during the quarter. Franklin Resources Inc. owned 0.22% of argenx worth $72,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after acquiring an additional 1,265,486 shares during the period. Janus Henderson Group PLC lifted its position in argenx by 0.4% in the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock valued at $1,343,797,000 after purchasing an additional 10,975 shares during the period. Clearbridge Investments LLC boosted its holdings in argenx by 3.6% in the 2nd quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after purchasing an additional 21,189 shares in the last quarter. Wellington Management Group LLP increased its position in argenx by 13.0% during the 3rd quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after purchasing an additional 55,617 shares during the period. Finally, Sei Investments Co. raised its stake in shares of argenx by 15.2% during the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after buying an additional 50,477 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenx Trading Up 4.2 %

NASDAQ:ARGX opened at $632.64 on Tuesday. argenx SE has a 12-month low of $327.73 and a 12-month high of $643.63. The firm has a market cap of $38.19 billion, a price-to-earnings ratio of -718.91 and a beta of 0.59. The company’s 50-day moving average is $583.23 and its two-hundred day moving average is $517.38.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $543.29 million. During the same quarter in the previous year, the business posted ($1.25) earnings per share. On average, equities research analysts forecast that argenx SE will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. JMP Securities upped their price target on shares of argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Truist Financial raised their price objective on shares of argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Citigroup upped their target price on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Guggenheim increased their target price on shares of argenx from $585.00 to $665.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $635.11.

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.