First Trust Advisors LP Acquires 6,215 Shares of argenex SE $ARGX

First Trust Advisors LP grew its holdings in shares of argenex SE (NASDAQ:ARGX) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,985 shares of the company’s stock after buying an additional 6,215 shares during the quarter. First Trust Advisors LP owned 0.11% of argenex worth $47,930,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARGX. Adage Capital Partners GP L.L.C. boosted its stake in argenex by 114.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after purchasing an additional 158,476 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of argenex by 103.9% in the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock worth $154,233,000 after purchasing an additional 142,606 shares during the last quarter. American Century Companies Inc. raised its stake in shares of argenex by 11.6% in the third quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock worth $169,474,000 after purchasing an additional 23,864 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of argenex by 14.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock valued at $162,160,000 after purchasing an additional 26,343 shares in the last quarter. Finally, Orbimed Advisors LLC lifted its holdings in shares of argenex by 0.6% in the second quarter. Orbimed Advisors LLC now owns 208,000 shares of the company’s stock valued at $114,654,000 after purchasing an additional 1,300 shares in the last quarter. 60.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARGX has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a report on Wednesday, January 21st. Morgan Stanley raised their price objective on argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Wells Fargo & Company cut their price objective on shares of argenex from $1,317.00 to $1,247.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Wall Street Zen lowered shares of argenex from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Truist Financial increased their target price on shares of argenex from $950.00 to $1,030.00 and gave the company a “buy” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, argenex presently has an average rating of “Moderate Buy” and a consensus price target of $999.22.

argenex Stock Down 2.0%

NASDAQ ARGX opened at $728.09 on Thursday. The company has a market cap of $45.05 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 1.23 and a beta of 0.38. argenex SE has a 52 week low of $510.05 and a 52 week high of $934.62. The firm’s 50-day simple moving average is $809.43 and its two-hundred day simple moving average is $816.56.

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

argenex 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.