argenex SE $ARGX Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in argenex SE (NASDAQ:ARGX) by 7.7% during the third quarter, Holdings Channel reports. The institutional investor owned 258,274 shares of the company’s stock after selling 21,529 shares during the quarter. Franklin Resources Inc.’s holdings in argenex were worth $190,492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors boosted its position in shares of argenex by 0.4% during the 3rd quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock worth $1,445,113,000 after purchasing an additional 8,422 shares in the last quarter. Capital International Sarl purchased a new position in shares of argenex in the 3rd quarter valued at about $1,364,000. Capital International Ltd. CA purchased a new position in shares of argenex in the 3rd quarter valued at about $802,000. Capital International Inc. CA acquired a new stake in shares of argenex in the third quarter valued at about $460,000. Finally, Legal & General Group Plc boosted its holdings in argenex by 18.1% during the third quarter. Legal & General Group Plc now owns 148,619 shares of the company’s stock worth $109,615,000 after buying an additional 22,810 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Price Performance

Shares of ARGX opened at $708.85 on Friday. argenex SE has a 1-year low of $510.05 and a 1-year high of $934.62. The stock has a market cap of $43.86 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 1.20 and a beta of 0.38. The firm has a 50 day simple moving average of $806.79 and a 200-day simple moving average of $815.81.

argenex (NASDAQ:ARGX) last posted its earnings results on Thursday, February 26th. The company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.05 by $1.97. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. argenex had a return on equity of 38.51% and a net margin of 30.42%. On average, equities analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on ARGX. DZ Bank upgraded shares of argenex to a “strong-buy” rating in a research report on Friday, December 19th. Robert W. Baird boosted their price target on argenex from $858.00 to $867.00 and gave the stock a “neutral” rating in a research note on Friday, February 27th. Guggenheim lowered their price target on argenex from $1,160.00 to $1,120.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wolfe Research reaffirmed a “peer perform” rating on shares of argenex in a report on Monday, November 24th. Finally, Stifel Nicolaus boosted their target price on argenex from $1,028.00 to $1,248.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $999.22.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.