Franklin Resources Inc. Sells 2,204 Shares of argenx SE (NASDAQ:ARGX)

Franklin Resources Inc. cut its stake in argenx SE (NASDAQ:ARGX - Free Report) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,018 shares of the company's stock after selling 2,204 shares during the period. Franklin Resources Inc. owned about 0.22% of argenx worth $72,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. raised its position in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company's stock valued at $28,000 after purchasing an additional 62 shares during the last quarter. Cromwell Holdings LLC increased its stake in shares of argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock valued at $85,000 after buying an additional 66 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of argenx by 47.5% in the third quarter. GAMMA Investing LLC now owns 174 shares of the company's stock valued at $94,000 after buying an additional 56 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in argenx during the 2nd quarter worth about $76,000. Finally, Keudell Morrison Wealth Management acquired a new stake in argenx in the 3rd quarter valued at about $207,000. Institutional investors own 60.32% of the company's stock.

Wall Street Analysts Forecast Growth

ARGX has been the topic of several research analyst reports. Oppenheimer reissued an "outperform" rating and set a $675.00 price target (up from $646.00) on shares of argenx in a research note on Thursday, November 21st. Wedbush reissued an "outperform" rating and issued a $655.00 target price on shares of argenx in a research note on Tuesday, December 3rd. HC Wainwright reaffirmed a "buy" rating and set a $617.00 price target on shares of argenx in a research note on Wednesday, November 20th. Piper Sandler lifted their price objective on argenx from $553.00 to $620.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Finally, Truist Financial boosted their price objective on argenx from $540.00 to $660.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, argenx currently has an average rating of "Moderate Buy" and a consensus target price of $635.11.

argenx Stock Performance

ARGX stock traded up $5.69 during mid-day trading on Tuesday, hitting $638.33. 459,657 shares of the company were exchanged, compared to its average volume of 308,406. argenx SE has a 1-year low of $327.73 and a 1-year high of $644.97. The firm's 50 day simple moving average is $583.23 and its 200 day simple moving average is $517.38. The firm has a market cap of $38.53 billion, a P/E ratio of -725.38 and a beta of 0.59.

argenx (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same period last year, the business posted ($1.25) earnings per share. On average, equities research analysts predict that argenx SE will post 2.2 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.