Cetera Investment Advisers Cuts Stock Position in argenx SE (NASDAQ:ARGX)

Cetera Investment Advisers trimmed its position in shares of argenx SE (NASDAQ:ARGX) by 3.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,773 shares of the company’s stock after selling 96 shares during the quarter. Cetera Investment Advisers’ holdings in argenx were worth $1,193,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Perceptive Advisors LLC purchased a new position in argenx during the second quarter worth about $6,709,000. Creative Planning increased its holdings in shares of argenx by 15.5% during the 2nd quarter. Creative Planning now owns 3,528 shares of the company’s stock worth $1,517,000 after buying an additional 474 shares during the last quarter. Driehaus Capital Management LLC raised its position in shares of argenx by 69.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 28,309 shares of the company’s stock valued at $12,174,000 after buying an additional 11,642 shares during the period. Mackenzie Financial Corp lifted its holdings in argenx by 8.4% in the second quarter. Mackenzie Financial Corp now owns 2,265 shares of the company’s stock valued at $974,000 after acquiring an additional 176 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in argenx by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,435 shares of the company’s stock worth $23,839,000 after acquiring an additional 1,048 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ARGX shares. HC Wainwright upped their target price on shares of argenx from $504.00 to $533.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Oppenheimer upgraded shares of argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price objective on the stock in a report on Tuesday, July 23rd. Wells Fargo & Company lifted their target price on shares of argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Wedbush boosted their target price on argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Raymond James restated a “strong-buy” rating and set a $605.00 price target on shares of argenx in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $548.00.

argenx Stock Performance

argenx stock opened at $540.61 on Thursday. The stock has a market cap of $32.13 billion, a PE ratio of -95.51 and a beta of 0.63. The firm’s 50-day simple moving average is $530.80 and its 200 day simple moving average is $451.66. argenx SE has a fifty-two week low of $327.73 and a fifty-two week 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The business had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. During the same quarter in the prior year, the firm posted ($1.69) EPS. As a group, analysts predict that argenx SE will post -0.37 EPS for the current fiscal year.

argenx Company Profile

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.