argenex SE $ARGX Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its holdings in argenex SE (NASDAQ:ARGX) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,653 shares of the company’s stock after selling 2,273 shares during the quarter. Handelsbanken Fonder AB’s holdings in argenex were worth $48,850,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Eastern Bank acquired a new position in shares of argenex during the 2nd quarter worth approximately $32,000. Sound Income Strategies LLC purchased a new stake in argenex in the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new stake in argenex during the 1st quarter valued at $28,000. Sunbelt Securities Inc. acquired a new stake in argenex during the 3rd quarter valued at $36,000. Finally, Axiom Investment Management LLC purchased a new position in argenex during the first quarter worth $50,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Stock Performance

Shares of ARGX opened at $864.74 on Wednesday. The stock has a fifty day moving average of $880.98 and a two-hundred day moving average of $820.35. The company has a market capitalization of $54.10 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. argenex SE has a fifty-two week low of $636.10 and a fifty-two week high of $953.58.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. As a group, equities research analysts forecast that argenex SE will post 28.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARGX. Citigroup boosted their price target on argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Morgan Stanley increased their price objective on argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Guggenheim initiated coverage on argenex in a research report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 price objective for the company. Royal Bank Of Canada boosted their target price on shares of argenex from $945.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Weiss Ratings lowered shares of argenex from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, argenex presently has an average rating of “Moderate Buy” and a consensus price target of $1,056.89.

argenex Company Profile

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.