Envestnet Asset Management Inc. Buys 7,645 Shares of argenx SE (NASDAQ:ARGX)

Envestnet Asset Management Inc. boosted its stake in argenx SE (NASDAQ:ARGX) by 13.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,999 shares of the company’s stock after purchasing an additional 7,645 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of argenx worth $27,092,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of argenx by 49.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after acquiring an additional 1,830,651 shares during the period. Capital World Investors grew its position in shares of argenx by 37.0% during the 4th quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock valued at $746,099,000 after acquiring an additional 530,181 shares during the period. Janus Henderson Group PLC grew its position in shares of argenx by 24.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after acquiring an additional 439,889 shares during the period. Artisan Partners Limited Partnership grew its position in shares of argenx by 12.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock valued at $1,207,666,000 after acquiring an additional 346,178 shares during the period. Finally, Avoro Capital Advisors LLC grew its position in shares of argenx by 23.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock valued at $469,666,000 after acquiring an additional 234,567 shares during the period. Institutional investors own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ARGX shares. Robert W. Baird increased their price target on argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. HC Wainwright increased their price target on argenx from $504.00 to $533.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price target for the company in a research note on Tuesday, July 23rd. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Finally, Wedbush raised their price objective on argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $547.74.

argenx Price Performance

Shares of NASDAQ ARGX opened at $533.00 on Friday. The company has a market cap of $31.68 billion, a P/E ratio of -94.17 and a beta of 0.62. argenx SE has a 1 year low of $327.73 and a 1 year high of $554.74. The firm has a 50-day simple moving average of $512.59 and a two-hundred day simple moving average of $432.76.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. The business had revenue of $489.43 million for 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 last year, the company posted ($1.69) earnings per share. As a group, equities research analysts expect that argenx SE will post -0.37 EPS 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.