Envestnet Asset Management Inc. Raises Holdings in argenx SE (NASDAQ:ARGX)

Envestnet Asset Management Inc. boosted its holdings in shares of argenx SE (NASDAQ:ARGX) by 13.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,999 shares of the company’s stock after buying an additional 7,645 shares during the quarter. Envestnet Asset Management Inc.’s holdings in argenx were worth $27,092,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. increased its holdings in argenx by 11.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,255 shares of the company’s stock valued at $1,400,000 after buying an additional 339 shares during the period. Headlands Technologies LLC increased its holdings in argenx by 112.7% during the second quarter. Headlands Technologies LLC now owns 2,144 shares of the company’s stock valued at $922,000 after buying an additional 1,136 shares during the period. Varma Mutual Pension Insurance Co increased its holdings in argenx by 20.0% during the second quarter. Varma Mutual Pension Insurance Co now owns 6,000 shares of the company’s stock valued at $2,580,000 after buying an additional 1,000 shares during the period. Gallacher Capital Management LLC purchased a new position in argenx during the second quarter valued at approximately $202,000. Finally, Candriam S.C.A. increased its holdings in argenx by 34.8% during the second quarter. Candriam S.C.A. now owns 51,418 shares of the company’s stock valued at $22,111,000 after buying an additional 13,265 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ARGX shares. Wedbush lifted their price target on shares of argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of argenx from $485.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Truist Financial lifted their price target on shares of argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Wells Fargo & Company lifted their price target on shares of argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, William Blair reaffirmed a “market perform” rating on shares of argenx in a report on Monday, June 17th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, argenx has a consensus rating of “Moderate Buy” and a consensus price target of $547.74.

argenx Price Performance

NASDAQ ARGX opened at $533.00 on Friday. The company has a market capitalization of $31.68 billion, a PE ratio of -94.17 and a beta of 0.62. The company has a fifty day moving average of $512.59 and a 200 day moving average of $432.76. argenx SE has a 1 year low of $327.73 and a 1 year high of $554.74.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. The business had revenue of $489.43 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted ($1.69) earnings per share. Research analysts expect that argenx SE will post -0.37 earnings per share for the current year.

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.