Raymond James & Associates Lowers Stock Position in argenx SE (NASDAQ:ARGX)

Raymond James & Associates cut its stake in shares of argenx SE (NASDAQ:ARGX) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,803 shares of the company’s stock after selling 1,308 shares during the quarter. Raymond James & Associates owned approximately 0.09% of argenx worth $29,166,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Profund Advisors LLC grew its position in shares of argenx by 3.0% during the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock worth $418,000 after purchasing an additional 28 shares in the last quarter. Wealth Alliance grew its holdings in argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after buying an additional 29 shares in the last quarter. GAMMA Investing LLC raised its position in shares of argenx by 51.3% during the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after buying an additional 40 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of argenx by 16.5% in the first quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock worth $119,000 after buying an additional 43 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of argenx by 3.1% during the second quarter. Sequoia Financial Advisors LLC now owns 1,713 shares of the company’s stock worth $737,000 after acquiring an additional 52 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Stock Performance

Shares of ARGX stock opened at $557.92 on Thursday. The stock has a 50 day moving average price of $533.68 and a 200 day moving average price of $457.45. The firm has a market capitalization of $33.16 billion, a P/E ratio of -98.57 and a beta of 0.63. argenx SE has a 52-week low of $327.73 and a 52-week high of $571.97.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $1.34. The firm had revenue of $489.43 million during the quarter, compared to analyst estimates of $436.66 million. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. During the same period in the previous year, the firm earned ($1.69) earnings per share. As a group, sell-side analysts forecast that argenx SE will post -0.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ARGX shares. Evercore ISI lifted their price target on shares of argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a report on Friday, July 12th. Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 target price on the stock in a research report on Tuesday, July 23rd. HC Wainwright raised their price target on argenx from $504.00 to $533.00 and gave the company a “buy” rating in a report on Friday, July 26th. Wedbush upped their price objective on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Raymond James reiterated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $550.44.

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.