argenex SE $ARGX Shares Sold by Franklin Resources Inc.

Key Points

• Franklin Resources trimmed its stake in argenex by 7.7% in Q3, selling 21,529 shares and retaining 258,274 shares (about 0.42%) valued at roughly $190.5 million.
• argenex beat expectations, reporting $8.02 EPS versus $6.05 estimated and $1.32 billion in revenue versus $1.30 billion, with a net margin of 30.42% and ROE of 38.51%.
• Analysts issued mixed target changes but the consensus remains a "Moderate Buy" with a consensus price target of $999.22.

Franklin Resources Inc. cut its position in argenex SE (NASDAQ:ARGX - Free Report) by 7.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 258,274 shares of the company's stock after selling 21,529 shares during the quarter. Franklin Resources Inc. owned approximately 0.42% of argenex worth $190,492,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC lifted its stake in argenex by 3.4% in the third quarter. Sound View Wealth Advisors Group LLC now owns 396 shares of the company's stock valued at $292,000 after buying an additional 13 shares during the last quarter. GAMMA Investing LLC grew its position in shares of argenex by 6.8% during the third quarter. GAMMA Investing LLC now owns 251 shares of the company's stock worth $185,000 after acquiring an additional 16 shares during the last quarter. Portside Wealth Group LLC increased its holdings in shares of argenex by 2.8% in the 3rd quarter. Portside Wealth Group LLC now owns 583 shares of the company's stock valued at $430,000 after acquiring an additional 16 shares during the period. Cromwell Holdings LLC increased its holdings in shares of argenex by 10.0% in the 3rd quarter. Cromwell Holdings LLC now owns 187 shares of the company's stock valued at $138,000 after acquiring an additional 17 shares during the period. Finally, Wealth Alliance LLC raised its position in argenex by 2.7% in the 3rd quarter. Wealth Alliance LLC now owns 839 shares of the company's stock valued at $619,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on ARGX shares. Royal Bank Of Canada lowered their price objective on shares of argenex from $925.00 to $890.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. Wells Fargo & Company reduced their target price on shares of argenex from $1,317.00 to $1,247.00 and set an "overweight" rating for the company in a report on Friday, February 27th. Truist Financial increased their target price on shares of argenex from $950.00 to $1,030.00 and gave the stock a "buy" rating in a research note on Thursday, January 8th. Wall Street Zen lowered argenex from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Finally, Citizens Jmp boosted their price target on argenex from $925.00 to $944.00 and gave the company a "market outperform" rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $999.22.

argenex Stock Performance

Shares of ARGX opened at $708.85 on Friday. The stock has a market capitalization of $43.86 billion, a P/E ratio of 36.31, a P/E/G ratio of 1.20 and a beta of 0.38. argenex SE has a 1 year low of $510.05 and a 1 year high of $934.62. The company's fifty day moving average is $806.79 and its two-hundred day moving average is $815.81.

argenex (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.05 by $1.97. The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.30 billion. argenex had a net margin of 30.42% and a return on equity of 38.51%. Sell-side analysts predict 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.

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