Franklin Resources Inc. cut its stake in shares of argenx SE (NASDAQ:ARGX – Get Rating) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,658 shares of the company’s stock after selling 608 shares during the quarter. Franklin Resources Inc. owned 0.46% of argenx worth $94,969,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Glassman Wealth Services raised its holdings in shares of argenx by 69.4% during the second quarter. Glassman Wealth Services now owns 83 shares of the company’s stock worth $31,000 after acquiring an additional 34 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of argenx by 32.1% during the second quarter. Lindbrook Capital LLC now owns 144 shares of the company’s stock worth $55,000 after acquiring an additional 35 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of argenx by 13.9% during the second quarter. Parallel Advisors LLC now owns 337 shares of the company’s stock worth $128,000 after acquiring an additional 41 shares in the last quarter. Comerica Bank raised its holdings in shares of argenx by 5.0% during the second quarter. Comerica Bank now owns 874 shares of the company’s stock worth $326,000 after acquiring an additional 42 shares in the last quarter. Finally, KB Financial Partners LLC raised its holdings in shares of argenx by 112.5% during the first quarter. KB Financial Partners LLC now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 45 shares in the last quarter. 59.75% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Morgan Stanley increased their price objective on argenx from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, October 28th. Evercore ISI upgraded argenx to an “outperform” rating in a report on Friday, October 21st. JMP Securities restated a “buy” rating and set a $427.00 target price on shares of argenx in a report on Thursday, September 22nd. HC Wainwright raised their target price on argenx from $425.00 to $440.00 and gave the company a “buy” rating in a report on Friday, October 28th. Finally, Stifel Nicolaus raised their target price on argenx from $460.00 to $471.00 in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $430.14.
argenx Stock Performance
argenx (NASDAQ:ARGX – Get Rating) last released its earnings results on Thursday, October 27th. The company reported ($4.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.50) by ($0.76). argenx had a negative return on equity of 49.53% and a negative net margin of 295.08%. The firm had revenue of $146.49 million for the quarter, compared to analyst estimates of $115.49 million. As a group, equities analysts predict that argenx SE will post -15.21 EPS for the current year.
argenx SE, a biotechnology company, focuses on developing various therapies for the treatment of autoimmune diseases in the United States, the Netherlands, Belgium, Japan, Switzerland, Germany and France. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, and chronic inflammatory demyelinating polyneuropathy in Phase III clinical trials; bullous pemphigoid and idiopathic inflammatory myopathy in Phase II/III clinical trials; and ENHANZE SC in Pre-clinical study.
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